CCL Industries (TSE:CCL.B) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

CCL Industries Inc. (TSE:CCL.B)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$77.02 and traded as high as C$77.26. CCL Industries shares last traded at C$75.82, with a volume of 174,488 shares changing hands.

Analysts Set New Price Targets

CCL.B has been the subject of a number of research reports. National Bankshares lifted their target price on shares of CCL Industries from C$94.00 to C$96.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. BMO Capital Markets lifted their target price on shares of CCL Industries from C$91.00 to C$95.00 in a research note on Friday, August 15th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$91.43.

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 firm’s 50 day moving average is C$79.80 and its 200-day moving average is C$77.02. The firm has a market cap of C$13.22 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 0.26 and a beta of 0.54.

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.