CCL Industries (TSE:CCL.B) Hits New 1-Year High Following Analyst Upgrade

Shares of CCL Industries Inc. (TSE:CCL.B) hit a new 52-week high during mid-day trading on Thursday after TD Securities raised their price target on the stock from C$100.00 to C$105.00. The stock traded as high as C$89.16 and last traded at C$88.55, with a volume of 205757 shares trading hands. The stock had previously closed at C$87.02.

Several other analysts also recently weighed in on CCL.B. Scotiabank upped their price objective on CCL Industries from C$91.00 to C$94.00 in a research report on Thursday, November 13th. BMO Capital Markets increased their target price on shares of CCL Industries from C$95.00 to C$97.00 in a report on Thursday, November 13th. Stifel Nicolaus upped their price objective on shares of CCL Industries from C$92.00 to C$103.00 in a research report on Thursday, November 13th. Raymond James Financial increased their price objective on shares of CCL Industries from C$90.00 to C$95.00 in a research note on Thursday, November 13th. Finally, CIBC boosted their target price on shares of CCL Industries from C$93.00 to C$99.00 in a research note on Friday, November 14th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$97.88.

CCL Industries Stock Performance

The firm has a market capitalization of C$15.09 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 0.26 and a beta of 0.57. The company has a 50-day moving average of C$85.55 and a 200-day moving average of C$81.64. 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.