CCL Industries (TSE:CCL.B) Hits New 1-Year High – Here’s Why

CCL Industries Inc. (TSE:CCL.B) hit a new 52-week high during trading on Thursday. The company traded as high as C$99.37 and last traded at C$99.37, with a volume of 3,530 shares changing hands. The stock had previously closed at C$96.58.

Analyst Ratings Changes

A number of research firms have issued reports on CCL.B. TD set a C$115.00 price target on shares of CCL Industries and gave the stock a “buy” rating in a research report on Thursday, September 10th. Canadian Imperial Bank of Commerce upped their price objective on shares of CCL Industries from C$104.00 to C$113.00 in a report on Friday, August 14th. Royal Bank Of Canada upped their price objective on shares of CCL Industries from C$100.00 to C$107.00 and gave the company an “outperform” rating in a report on Friday, August 14th. ATB Cormark Capital Markets increased their price objective on shares of CCL Industries from C$102.00 to C$104.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Finally, Raymond James Financial boosted their target price on shares of CCL Industries from C$100.00 to C$105.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$106.60.

CCL Industries Stock Performance

The firm’s 50 day moving average is C$94.41 and its 200-day moving average is C$90.53. The stock has a market capitalization of C$16.78 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 0.26 and a beta of 0.84. 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. 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.