CCL Industries (TSE:CCL.B) Sets New 52-Week High – Here’s What Happened

CCL Industries Inc. (TSE:CCL.B)’s stock price hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as C$100.52 and last traded at C$100.30, with a volume of 51,633 shares. The stock had previously closed at C$99.45.

Analysts Set New Price Targets

Several research firms recently commented on CCL.B. National Bank Financial boosted their price target 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. ATB Cormark Capital Markets upped their target price on shares of CCL Industries from C$102.00 to C$104.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. TD set a C$115.00 price objective on shares of CCL Industries and gave the company a “buy” rating in a report on Thursday, September 10th. BMO Capital Markets upped their price target on shares of CCL Industries from C$103.00 to C$110.00 in a report on Friday, August 14th. Finally, Raymond James Financial raised their price objective 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. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$106.60.

CCL Industries Trading Up 1.1%

The company has a fifty day moving average of C$94.94 and a two-hundred day moving average of C$89.90. 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$17.01 billion, a price-to-earnings ratio of 21.54, 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.