CCL Industries (TSE:CCL.B) Hits New 52-Week High – Still a Buy?

Shares of CCL Industries Inc. (TSE:CCL.B) reached a new 52-week high on Thursday . The stock traded as high as C$89.10 and last traded at C$88.58, with a volume of 123927 shares traded. The stock had previously closed at C$86.80.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. TD Securities lifted their price objective on shares of CCL Industries from C$95.00 to C$100.00 in a report on Thursday, November 13th. Royal Bank Of Canada lifted their price objective on shares of CCL Industries from C$90.00 to C$94.00 in a research report on Thursday, November 13th. BMO Capital Markets lifted their price target on CCL Industries from C$95.00 to C$97.00 in a report on Thursday, November 13th. Raymond James Financial raised their price target on CCL Industries from C$90.00 to C$95.00 in a report on Thursday, November 13th. Finally, Scotiabank boosted their price objective on CCL Industries from C$91.00 to C$94.00 in a report on Thursday, November 13th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$97.25.

CCL Industries Price Performance

The company’s 50-day moving average is C$84.10 and its two-hundred day moving average is C$81.02. 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 firm has a market cap of C$15.36 billion, a P/E ratio of 19.32, a PEG ratio of 0.26 and a beta of 0.57.

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.