CCL Industries (TSE:CCL.B) Downgraded to Sector Perform Rating by Scotiabank

Scotiabank downgraded shares of CCL Industries (TSE:CCL.B) from an outperform rating to a sector perform rating in a research note issued to investors on Thursday morning,BayStreet.CA reports. Scotiabank currently has C$96.00 target price on the stock, up from their previous target price of C$94.00.

Several other brokerages have also recently weighed in on CCL.B. TD Securities lifted their price target on CCL Industries from C$100.00 to C$105.00 in a research report on Wednesday, January 21st. Royal Bank Of Canada lifted their target price on CCL Industries from C$90.00 to C$94.00 in a report on Thursday, November 13th. BMO Capital Markets increased their price target on shares of CCL Industries from C$95.00 to C$97.00 in a report on Thursday, November 13th. CIBC boosted their price objective on shares of CCL Industries from C$93.00 to C$99.00 in a research note on Friday, November 14th. Finally, Stifel Nicolaus increased their target price on shares of CCL Industries from C$92.00 to C$103.00 in a research note on Thursday, November 13th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$98.13.

CCL Industries Stock Performance

Shares of CCL.B stock opened at C$81.26 on Thursday. The firm’s 50 day moving average is C$85.58 and its 200 day moving average is C$81.77. The stock has a market capitalization of C$14.08 billion, a P/E ratio of 17.70, a PEG ratio of 0.26 and a beta of 0.57. CCL Industries has a 12 month low of C$64.93 and a 12 month high of C$89.16. The company has a current ratio of 1.96, a quick ratio of 1.31 and a debt-to-equity ratio of 48.08.

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.