CCL Industries (OTCMKTS:CCDBF) Hits New 52-Week High – Time to Buy?

CCL Industries Inc. (OTCMKTS:CCDBF) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $74.77 and last traded at $65.54, with a volume of 113 shares trading hands. The stock had previously closed at $65.19.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CCDBF. TD Securities reiterated a “buy” rating on shares of CCL Industries in a research note on Friday, May 15th. Scotiabank cut shares of CCL Industries from an “outperform” rating to a “sector perform” rating in a research note on Thursday, January 29th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of CCL Industries in a research note on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

CCL Industries Price Performance

The stock’s 50-day moving average is $63.08 and its 200-day moving average is $62.62. The firm has a market cap of $10.16 billion and a P/E ratio of 39.55. The company has a quick ratio of 1.07, a current ratio of 1.42 and a debt-to-equity ratio of 0.27.

CCL Industries (OTCMKTS:CCDBF) last announced its earnings results on Wednesday, May 13th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. CCL Industries had a net margin of 10.37% and a return on equity of 14.71%.

About CCL Industries

CCL Industries is a global specialty packaging company focused on the design and manufacture of pressure-sensitive and speciality labels, flexible packaging, tubes, and security products. The company serves a wide range of end markets, including consumer goods, healthcare, personal care, food and beverage, automotive, electronics, and industrial markets. Its portfolio comprises pressure-sensitive labels, shrink sleeves, in-mold labels, flexible packaging for food and other consumer products, and security-focused solutions such as tamper-evident seals and authentication systems.

Founded in 1951 and headquartered in Toronto, Ontario, CCL Industries has grown through a combination of organic innovation and strategic acquisitions.