CCL Industries (OTCMKTS:CCDBF) Shares Gap Down – Here’s What Happened

Shares of CCL Industries Inc. (OTCMKTS:CCDBF) gapped down prior to trading on Friday . The stock had previously closed at $61.72, but opened at $50.95. CCL Industries shares last traded at $61.2050, with a volume of 139 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CCDBF. BMO Capital Markets restated an “outperform” rating on shares of CCL Industries in a research report on Thursday, December 18th. Scotiabank cut CCL Industries from an “outperform” rating to a “sector perform” rating in a report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

CCL Industries Trading Up 1.1%

The business has a 50 day simple moving average of $63.37 and a two-hundred day simple moving average of $60.41.

CCL Industries (OTCMKTS:CCDBF) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.05). The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion.

CCL Industries Company Profile

CCL Industries is a global specialty packaging company focused on the design and manufacture of pressure-sensitive and speciality labels, flexible packaging, tubes, and security products. The company serves a wide range of end markets, including consumer goods, healthcare, personal care, food and beverage, automotive, electronics, and industrial markets. Its portfolio comprises pressure-sensitive labels, shrink sleeves, in-mold labels, flexible packaging for food and other consumer products, and security-focused solutions such as tamper-evident seals and authentication systems.

Founded in 1951 and headquartered in Toronto, Ontario, CCL Industries has grown through a combination of organic innovation and strategic acquisitions.