CCL Industries (TSE:CCL.B) Sets New 1-Year Low – Here’s What Happened

CCL Industries Inc. (TSE:CCL.B)’s share price reached a new 52-week low on Thursday . The stock traded as low as C$69.00 and last traded at C$69.42, with a volume of 151320 shares. The stock had previously closed at C$69.78.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CCL.B. Scotiabank boosted their price target on CCL Industries from C$85.00 to C$86.00 in a report on Friday, February 21st. CIBC reduced their target price on shares of CCL Industries from C$97.00 to C$96.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, CCL Industries has an average rating of “Buy” and a consensus target price of C$90.38.

CCL Industries Trading Down 3.8 %

The business has a 50 day simple moving average of C$71.60 and a 200-day simple moving average of C$75.73. 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 stock has a market capitalization of C$11.29 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 0.26 and a beta of 0.57.

Insider Activity

In other CCL Industries news, Director Tom Peddie sold 400 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of C$69.85, for a total value of C$27,940.00. Following the completion of the sale, the director now owns 100 shares of the company’s stock, valued at C$6,985. This trade represents a 80.00 % decrease in their ownership of the stock. Also, insider CCL Industries Inc. purchased 67,024 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of C$73.98 per share, with a total value of C$4,958,609.78. Insiders sold 8,427 shares of company stock valued at $609,884 in the last ninety days. Company insiders own 11.22% of the company’s stock.

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.