CCL Industries (OTCMKTS:CCDBF) Sees Strong Trading Volume – Time to Buy?

CCL Industries Inc. (OTCMKTS:CCDBF) saw unusually-high trading volume on Wednesday . Approximately 931 shares were traded during mid-day trading, an increase of 112% from the previous session’s volume of 440 shares.The stock last traded at $64.87 and had previously closed at $66.71.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CCDBF. BMO Capital Markets reissued an “outperform” rating on shares of CCL Industries in a research report on Thursday, December 18th. Scotiabank downgraded shares of CCL Industries from an “outperform” rating to a “sector perform” rating in a research note on Thursday, January 29th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

CCL Industries Stock Down 2.9%

The business’s 50 day moving average is $62.94 and its 200-day moving average is $59.75.

About CCL Industries

CCL Industries is a global specialty packaging company focused on the design and manufacture of pressure-sensitive and speciality labels, flexible packaging, tubes, and security products. The company serves a wide range of end markets, including consumer goods, healthcare, personal care, food and beverage, automotive, electronics, and industrial markets. Its portfolio comprises pressure-sensitive labels, shrink sleeves, in-mold labels, flexible packaging for food and other consumer products, and security-focused solutions such as tamper-evident seals and authentication systems.

Founded in 1951 and headquartered in Toronto, Ontario, CCL Industries has grown through a combination of organic innovation and strategic acquisitions.