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

CCL Industries Inc. (TSE:CCL.B)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$83.96 and traded as high as C$88.54. CCL Industries shares last traded at C$87.66, with a volume of 258,058 shares traded.

Analyst Ratings Changes

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

CCL Industries Stock Up 0.6%

The firm’s 50-day moving average price is C$86.94 and its 200-day moving average price is C$83.96. The company has a debt-to-equity ratio of 48.08, a current ratio of 1.96 and a quick ratio of 1.31. The company has a market cap of C$15.19 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 0.26 and a beta of 0.80.

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.