CCL Industries (TSE:CCL.B) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

CCL Industries Inc. (TSE:CCL.B)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$81.38 and traded as high as C$87.27. CCL Industries shares last traded at C$85.70, with a volume of 352,857 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on CCL.B shares. Scotiabank boosted their price target on CCL Industries from C$91.00 to C$94.00 in a report on Thursday, November 13th. Raymond James Financial boosted their price objective on CCL Industries from C$90.00 to C$95.00 in a research note on Thursday, November 13th. BMO Capital Markets raised their target price on shares of CCL Industries from C$95.00 to C$97.00 in a research note on Thursday, November 13th. Stifel Nicolaus lifted their price target on shares of CCL Industries from C$92.00 to C$103.00 in a report on Thursday, November 13th. Finally, CIBC increased their price objective on shares of CCL Industries from C$93.00 to C$99.00 in a research note on Friday, November 14th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, CCL Industries currently has an average rating of “Buy” and an average target price of C$97.25.

CCL Industries Stock Performance

The firm’s 50-day moving average price is C$85.36 and its 200-day moving average price is C$81.43. The company has a debt-to-equity ratio of 48.08, a current ratio of 1.96 and a quick ratio of 1.31. The stock has a market cap of C$14.80 billion, a P/E ratio of 18.61, a PEG ratio of 0.26 and a beta of 0.57.

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.