CCL Industries (TSE:CCL.B) Hits New 1-Year High – Here’s Why

Shares of CCL Industries Inc. (TSE:CCL.B) hit a new 52-week high during mid-day trading on Thursday. The company traded as high as C$99.37 and last traded at C$99.37, with a volume of 3,530 shares. The stock had previously closed at C$96.58.

Analyst Ratings Changes

CCL.B has been the topic of several research analyst reports. Royal Bank Of Canada raised their price objective on CCL Industries from C$100.00 to C$107.00 and gave the company an “outperform” rating in a report on Friday, August 14th. National Bank Financial upped their target price on CCL Industries from C$104.00 to C$106.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Raymond James Financial upped their target price on CCL Industries from C$100.00 to C$105.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. ATB Cormark Capital Markets increased their target price on CCL Industries from C$102.00 to C$104.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Finally, BMO Capital Markets lifted their price target on shares of CCL Industries from C$103.00 to C$110.00 in a research note on Friday, August 14th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$106.60.

CCL Industries Stock Up 1.2%

The business has a fifty day simple moving average of C$94.41 and a two-hundred day simple moving average of C$90.53. The company has a current ratio of 1.96, a quick ratio of 1.31 and a debt-to-equity ratio of 48.08. The company has a market cap of C$16.78 billion, a PE ratio of 21.25, 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.