CCL Industries (TSE:CCL.B) Cut to “Sector Perform” at Scotiabank

Scotiabank cut shares of CCL Industries (TSE:CCL.B) from an outperform rating to a sector perform rating in a research note released on Thursday morning,BayStreet.CA reports. They currently have C$96.00 target price on the stock, up from their prior target price of C$94.00.

Other research analysts have also recently issued reports about the company. TD Securities raised their target price on CCL Industries from C$100.00 to C$105.00 in a research report on Wednesday, January 21st. Stifel Nicolaus increased their price objective on shares of CCL Industries from C$92.00 to C$103.00 in a research note on Thursday, November 13th. CIBC raised their price objective on shares of CCL Industries from C$93.00 to C$99.00 in a report on Friday, November 14th. BMO Capital Markets upped their target price on shares of CCL Industries from C$95.00 to C$97.00 in a research note on Thursday, November 13th. Finally, Raymond James Financial increased their price target on shares of CCL Industries from C$90.00 to C$95.00 in a research report on Thursday, November 13th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$98.13.

CCL Industries Price Performance

Shares of CCL.B stock opened at C$82.06 on Thursday. CCL Industries has a 12 month low of C$64.93 and a 12 month high of C$89.16. The company has a market capitalization of C$14.22 billion, a P/E ratio of 17.88, a P/E/G ratio of 0.26 and a beta of 0.57. The stock has a 50 day moving average of C$85.54 and a two-hundred day moving average of C$81.81. The company has a current ratio of 1.96, a quick ratio of 1.31 and a debt-to-equity ratio of 48.08.

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.