CCL Industries (CCL.B) Price Target Raised to C$68.00

CCL Industries (TSE:CCL.B) had its price target increased by research analysts at BMO Capital Markets from C$62.00 to C$68.00 in a report issued on Thursday, BayStreet.CA reports. BMO Capital Markets’ target price would indicate a potential upside of 13.28% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the company. TD Securities boosted their price target on CCL Industries from C$58.00 to C$60.00 and gave the company a “hold” rating in a research note on Thursday. CIBC upped their target price on CCL Industries from C$61.00 to C$64.00 in a research note on Thursday. Finally, Royal Bank of Canada upped their target price on CCL Industries from C$65.00 to C$66.00 and gave the stock an “outperform” rating in a research note on Thursday.

Shares of CCL.B stock opened at C$60.03 on Thursday. The company has a debt-to-equity ratio of 103.90, a current ratio of 1.62 and a quick ratio of 1.15. The company has a market capitalization of $9.87 billion and a P/E ratio of 20.55. CCL Industries has a 1 year low of C$53.00 and a 1 year high of C$71.32.

In other CCL Industries news, Senior Officer Sean Washchuk sold 18,300 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$54.00, for a total transaction of C$988,200.00. Following the completion of the sale, the insider now directly owns 55,557 shares in the company, valued at C$3,000,078. Also, Director Geoffrey Martin sold 120,978 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of C$53.98, for a total value of C$6,530,924.74. Following the sale, the director now owns 636,422 shares of the company’s stock, valued at C$34,356,859.82. Insiders have sold 156,367 shares of company stock valued at $8,441,833 over the last 90 days.

About CCL Industries

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.

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