CCL Industries (TSE:CCL.B) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of CCL Industries Inc. (TSE:CCL.B) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$83.72 and traded as high as C$88.80. CCL Industries shares last traded at C$86.79, with a volume of 355,211 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CCL.B shares. TD Securities increased their price target on CCL Industries from C$100.00 to C$105.00 in a report on Wednesday, January 21st. Raymond James Financial boosted their price objective on CCL Industries from C$95.00 to C$100.00 in a research note on Friday, February 27th. National Bank Financial upped their target price on CCL Industries from C$100.00 to C$102.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Finally, Scotiabank cut CCL Industries from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from C$94.00 to C$96.00 in a research note on Thursday, January 29th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, CCL Industries has a consensus rating of “Moderate Buy” and a consensus target price of C$99.50.

CCL Industries Stock Up 0.4%

The company has a market cap of C$15.03 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 0.26 and a beta of 0.80. The stock’s 50-day moving average is C$86.83 and its 200-day moving average is C$83.72. 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.