CCL Industries (TSE:CCL.B) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

CCL Industries Inc. (TSE:CCL.B)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$76.29 and traded as low as C$72.63. CCL Industries shares last traded at C$74.40, with a volume of 530,114 shares trading hands.

Wall Street Analysts Forecast Growth

CCL.B has been the subject of a number of analyst reports. TD Securities dropped their price target on shares of CCL Industries from C$98.00 to C$94.00 in a research report on Friday, November 15th. CIBC lifted their price objective on CCL Industries from C$93.00 to C$96.00 in a report on Monday, November 18th. Stifel Nicolaus increased their target price on CCL Industries from C$85.00 to C$90.00 in a report on Monday, November 18th. BMO Capital Markets boosted their price target on CCL Industries from C$90.00 to C$93.00 in a research note on Friday, November 15th. Finally, Royal Bank of Canada cut their price objective on shares of CCL Industries from C$92.00 to C$90.00 in a research report on Friday, November 15th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, CCL Industries currently has a consensus rating of “Buy” and a consensus price target of C$90.13.

CCL Industries Stock Down 1.1 %

The company has a debt-to-equity ratio of 48.08, a quick ratio of 1.31 and a current ratio of 1.96. The firm’s 50 day moving average price is C$79.05 and its two-hundred day moving average price is C$76.31. The company has a market cap of C$12.29 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 0.26 and a beta of 0.57.

Insiders Place Their Bets

In related news, insider CCL Industries Inc. acquired 67,024 shares of the company’s stock in a transaction on Friday, November 29th. The shares were acquired at an average cost of C$77.55 per share, for a total transaction of C$5,197,557.04. Also, Director Derek Cumming sold 10,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$81.41, for a total transaction of C$814,100.00. Over the last quarter, insiders have sold 23,700 shares of company stock worth $1,879,396. Corporate insiders own 11.22% of the company’s stock.

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.