Scotiabank Downgrades CCL Industries (TSE:CCL.B) to Sector Perform

CCL Industries (TSE:CCL.B) was downgraded by investment analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a report released on Thursday,BayStreet.CA reports. They currently have a C$96.00 price target on the stock, up from their previous price target of C$94.00. Scotiabank’s target price would suggest a potential upside of 16.99% from the stock’s current price.

Several other research analysts also recently commented on the company. Raymond James Financial boosted their target price on CCL Industries from C$90.00 to C$95.00 in a report on Thursday, November 13th. Stifel Nicolaus increased their target price on CCL Industries from C$92.00 to C$103.00 in a report on Thursday, November 13th. CIBC raised their target price on CCL Industries from C$93.00 to C$99.00 in a research note on Friday, November 14th. Royal Bank Of Canada upped their price target on shares of CCL Industries from C$90.00 to C$94.00 in a research report on Thursday, November 13th. Finally, TD Securities raised their price objective on shares of CCL Industries from C$100.00 to C$105.00 in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$98.13.

CCL Industries Price Performance

TSE:CCL.B opened at C$82.06 on Thursday. 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 firm has a market cap of C$14.22 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 0.26 and a beta of 0.57. CCL Industries has a 12 month low of C$64.93 and a 12 month high of C$89.16. The company’s 50-day moving average price is C$85.54 and its two-hundred day moving average price is C$81.79.

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.