CCL Industries (TSE:CCL.B) Reaches New 12-Month High – Time to Buy?

CCL Industries Inc. (TSE:CCL.B)’s share price hit a new 52-week high on Tuesday . The company traded as high as C$94.66 and last traded at C$94.70, with a volume of 190234 shares traded. The stock had previously closed at C$92.95.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CCL.B. National Bank Financial boosted their price objective on CCL Industries from C$102.00 to C$104.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. TD raised their target price on CCL Industries from C$105.00 to C$110.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Stifel Nicolaus lifted their target price on CCL Industries from C$103.00 to C$105.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Royal Bank Of Canada boosted their price target on CCL Industries from C$99.00 to C$100.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Finally, ATB Cormark Capital Markets increased their price target on CCL Industries from C$101.00 to C$102.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$101.80.

CCL Industries Price Performance

The business has a 50-day moving average price of C$89.22 and a two-hundred day moving average price of C$87.68. The company has a quick ratio of 1.31, a current ratio of 1.96 and a debt-to-equity ratio of 48.08. The company has a market capitalization of C$15.98 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 0.26 and a beta of 0.95.

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. 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.