CCL Industries (TSE:CCL.B) Hits New 52-Week High After Analyst Upgrade

CCL Industries Inc. (TSE:CCL.B)’s stock price hit a new 52-week high during trading on Thursday after TD Securities raised their price target on the stock from C$100.00 to C$105.00. The company traded as high as C$89.16 and last traded at C$88.55, with a volume of 205757 shares trading hands. The stock had previously closed at C$87.02.

Several other equities research analysts have also recently issued reports on CCL.B. Scotiabank raised their price objective on CCL Industries from C$91.00 to C$94.00 in a report on Thursday, November 13th. Raymond James Financial increased their target price on CCL Industries from C$90.00 to C$95.00 in a research report on Thursday, November 13th. Royal Bank Of Canada lifted their price target on CCL Industries from C$90.00 to C$94.00 in a report on Thursday, November 13th. CIBC raised their target price on shares of CCL Industries from C$93.00 to C$99.00 in a research report on Friday, November 14th. Finally, Stifel Nicolaus boosted their target price on shares of CCL Industries from C$92.00 to C$103.00 in a report on Thursday, November 13th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$97.88.

CCL Industries Stock Up 1.9%

The business’s 50 day simple moving average is C$85.56 and its 200-day simple moving average is C$81.59. The company has a debt-to-equity ratio of 48.08, a quick ratio of 1.31 and a current ratio of 1.96. The company has a market cap of C$15.36 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 0.26 and a beta of 0.57.

About CCL Industries

CCL Industries Inc manufactures and sells packaging and packaging-related products. The company operates through various segments, which include The CCL segment, which generates the majority of revenue, sells pressure sensitive and extruded film materials used for labels on consumer packaging, healthcare, automotive, and consumer durable products. The Avery segment sells software, labels, tags, dividers, badges, and specialty card products under the Avery brand. The Checkpoint segment includes the manufacturing and selling of technology-driven, inventory management and labeling solutions.