CCL Industries (TSE:CCL.B) Stock Passes Above 200-Day Moving Average – What’s Next?

CCL Industries Inc. (TSE:CCL.B)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$84.25 and traded as high as C$89.64. CCL Industries shares last traded at C$88.59, with a volume of 351,268 shares.

Analysts Set New Price Targets

Several research firms have commented on CCL.B. TD Securities boosted their price objective on CCL Industries from C$100.00 to C$105.00 in a research note on Wednesday, January 21st. Scotiabank lowered CCL Industries from an “outperform” rating to a “sector perform” rating and upped their price target for the company from C$94.00 to C$96.00 in a research report on Thursday, January 29th. National Bank Financial upped their price target 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, Raymond James Financial upped their price target on CCL Industries from C$95.00 to C$100.00 in a research report on Friday, February 27th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, CCL Industries has a consensus rating of “Moderate Buy” and an average price target of C$99.50.

CCL Industries Stock Down 0.3%

The company has a quick ratio of 1.31, a current ratio of 1.96 and a debt-to-equity ratio of 48.08. The business has a 50-day moving average price of C$87.18 and a 200-day moving average price of C$84.25. The firm has a market capitalization of C$15.35 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 0.26 and a beta of 0.86.

CCL Industries Company Profile

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.