CCL Industries (TSE:CCL.B) Sets New 52-Week High – Time to Buy?

CCL Industries Inc. (TSE:CCL.B)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$91.00 and last traded at C$90.89, with a volume of 56830 shares. The stock had previously closed at C$89.98.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CCL.B. National Bank Financial raised their price target on shares of CCL Industries from C$102.00 to C$104.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Royal Bank Of Canada increased their price objective on shares of CCL Industries from C$99.00 to C$100.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. TD increased their price objective on shares of CCL Industries from C$105.00 to C$110.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Raymond James Financial increased their price objective on shares of CCL Industries from C$95.00 to C$100.00 in a report on Friday, February 27th. Finally, Scotiabank cut shares of CCL Industries from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from C$94.00 to C$96.00 in a report on Thursday, January 29th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, CCL Industries presently has an average rating of “Moderate Buy” and an average target price of C$101.80.

CCL Industries Stock Performance

The company has a debt-to-equity ratio of 48.08, a quick ratio of 1.31 and a current ratio of 1.96. The stock’s fifty day moving average is C$86.46 and its two-hundred day moving average is C$86.04. The firm has a market cap of C$15.58 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 0.26 and a beta of 0.90.

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.