CCL Industries (TSE:CCL.B) Share Price Crosses Above 200 Day Moving Average – Here’s Why

CCL Industries Inc. (TSE:CCL.B)’s stock price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$90.40 and traded as high as C$97.05. CCL Industries shares last traded at C$96.87, with a volume of 267,456 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CCL.B shares. TD set a C$115.00 price objective on CCL Industries and gave the company a “buy” rating in a research note on Thursday, September 10th. National Bank Financial raised their target price on CCL Industries from C$104.00 to C$106.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Raymond James Financial raised their target price on CCL Industries from C$100.00 to C$105.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. ATB Cormark Capital Markets boosted their price target on CCL Industries from C$102.00 to C$104.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Finally, Canadian Imperial Bank of Commerce upped their price target on CCL Industries from C$104.00 to C$113.00 in a research report on Friday, August 14th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$106.60.

CCL Industries Stock Performance

The stock has a 50 day moving average price of C$94.28 and a two-hundred day moving average price of C$90.46. 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 company has a market capitalization of C$16.58 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 0.26 and a beta of 0.84.

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. The Avery segment sells software, labels, tags, dividers, badges, and specialty card products under the Avery brand. The Checkpoint segment includes the manufacturing and selling of technology-driven, inventory management and labeling solutions.