CIBC Issues Pessimistic Forecast for CCL Industries (TSE:CCL.B) Stock Price

CCL Industries (TSE:CCL.B) had its price target reduced by CIBC from C$96.00 to C$88.00 in a research note published on Tuesday morning,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other research analysts have also commented on CCL.B. Scotiabank increased their price objective on CCL Industries from C$85.00 to C$86.00 in a research report on Friday, February 21st. TD Securities lowered their price objective on shares of CCL Industries from C$94.00 to C$90.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$88.88.

CCL Industries Stock Up 1.6 %

TSE CCL.B opened at C$69.44 on Tuesday. CCL Industries has a one year low of C$64.93 and a one year high of C$84.70. The firm has a market cap of C$11.60 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 0.26 and a beta of 0.57. The company has a debt-to-equity ratio of 48.08, a current ratio of 1.96 and a quick ratio of 1.31. The stock’s 50 day simple moving average is C$70.54 and its 200 day simple moving average is C$74.31.

Insider Transactions at CCL Industries

In other news, Director Tom Peddie sold 400 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of C$69.85, for a total transaction of C$27,940.00. Following the completion of the sale, the director now owns 100 shares in the company, valued at C$6,985. The trade was a 80.00 % decrease in their ownership of the stock. Also, insider CCL Industries Inc. bought 67,024 shares of the stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of C$73.98 per share, for a total transaction of C$4,958,609.78. In the last three months, insiders sold 8,427 shares of company stock worth $609,884. 11.22% of the stock is owned by company insiders.

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.