CCL Industries (OTCMKTS:CCDBF) Shares Gap Up – Here’s Why

Shares of CCL Industries Inc. (OTCMKTS:CCDBF) gapped up before the market opened on Friday . The stock had previously closed at $62.98, but opened at $65.70. CCL Industries shares last traded at $65.70, with a volume of 3 shares trading hands.

Wall Street Analyst Weigh In

CCDBF has been the subject of several analyst reports. Scotiabank downgraded CCL Industries from an “outperform” rating to a “sector perform” rating in a research note on Thursday, January 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of CCL Industries in a research report on Thursday, December 18th. Two 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, CCL Industries presently has an average rating of “Moderate Buy”.

CCL Industries Trading Up 0.6%

The firm’s fifty day moving average is $63.52 and its two-hundred day moving average is $60.32.

CCL Industries (OTCMKTS:CCDBF) last posted its 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 company had revenue of $1.37 billion for 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.