CCL Industries (TSE:CCL.B) Shares Pass Above 200-Day Moving Average – Here’s Why

CCL Industries Inc. (TSE:CCL.B) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$82.56 and traded as high as C$88.22. CCL Industries shares last traded at C$88.16, with a volume of 243,321 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. TD Securities lifted their price target on CCL Industries from C$100.00 to C$105.00 in a report on Wednesday, January 21st. Stifel Nicolaus lifted their target price on shares of CCL Industries from C$92.00 to C$103.00 in a research note on Thursday, November 13th. Canadian Imperial Bank of Commerce increased their price target on shares of CCL Industries from C$93.00 to C$99.00 in a research note on Friday, November 14th. National Bank Financial lifted their price target on shares of CCL Industries from C$97.00 to C$100.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Finally, BMO Capital Markets upped their price objective on CCL Industries from C$95.00 to C$97.00 in a report on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, CCL Industries has a consensus rating of “Moderate Buy” and a consensus target price of C$98.63.

CCL Industries Price Performance

The stock has a market cap of C$15.27 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 0.26 and a beta of 0.45. The company has a current ratio of 1.96, a quick ratio of 1.31 and a debt-to-equity ratio of 48.08. The company’s fifty day moving average is C$86.18 and its two-hundred day moving average is C$82.56.

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.