CCL Industries (TSE:CCL.B) Shares Cross Above 200 Day Moving Average of $63.15

CCL Industries Inc. (TSE:CCL.B – Get Rating)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$63.15 and traded as high as C$68.07. CCL Industries shares last traded at C$67.47, with a volume of 356,193 shares traded.

Wall Street Analyst Weigh In

CCL.B has been the subject of a number of analyst reports. BMO Capital Markets increased their target price on CCL Industries from C$75.00 to C$78.00 in a research note on Friday, February 24th. CIBC increased their target price on CCL Industries from C$72.00 to C$74.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. Pi Financial dropped their price objective on CCL Industries from C$80.00 to C$79.00 in a research note on Monday, February 27th. Raymond James downgraded CCL Industries from an “outperform” rating to a “market perform” rating and set a C$71.00 price objective for the company. in a research note on Tuesday, April 11th. Finally, TD Securities raised their price objective on CCL Industries from C$73.00 to C$77.00 and gave the company a “buy” rating in a research note on Tuesday, May 16th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$75.13.

CCL Industries Stock Performance

The company has a debt-to-equity ratio of 53.52, a current ratio of 2.04 and a quick ratio of 1.31. The stock has a market capitalization of C$10.87 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 0.26 and a beta of 0.60. The company has a fifty day moving average of C$66.18 and a two-hundred day moving average of C$63.20.

About CCL Industries

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CCL Industries Inc manufactures and sells labels, containers, consumer printable media products, technology driven label solutions, polymer bank note substrates, and specialty films. The company operates through four segments: CCL, Avery, Checkpoint, and Innovia. The CCL segment offers pressure sensitive and specialty extruded film materials for decorative, instructional, functional, and security applications in the consumer packaging, healthcare, chemicals, consumer electronic device, and automotive markets.