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 two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$78.25 and traded as high as C$78.46. CCL Industries shares last traded at C$77.84, with a volume of 268,076 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets upped their price target on shares of CCL Industries from C$91.00 to C$95.00 in a research note on Friday, August 15th. National Bankshares boosted their target price on CCL Industries from C$94.00 to C$96.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CCL Industries presently has an average rating of “Buy” and a consensus target price of C$91.43.

CCL Industries Trading Up 1.6%

The company has a market cap of C$13.80 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 0.26 and a beta of 0.60. The company’s 50 day moving average price is C$78.88 and its 200 day moving average price is C$78.32. The company has a debt-to-equity ratio of 48.08, a quick ratio of 1.31 and a current ratio of 1.96.

About CCL Industries

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.