CCL Industries (OTCMKTS:CCDBF) Shares Gap Up – Here’s Why

CCL Industries Inc. (OTCMKTS:CCDBF)’s share price gapped up before the market opened on Friday . The stock had previously closed at $62.9360, but opened at $67.2199. CCL Industries shares last traded at $63.7360, with a volume of 45 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CCDBF shares. Scotiabank lowered CCL Industries from an “outperform” rating to a “sector perform” rating in a report on Thursday, January 29th. BMO Capital Markets reiterated an “outperform” rating on shares of CCL Industries in a report on Thursday, December 18th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

CCL Industries Stock Up 1.2%

The company has a quick ratio of 1.07, a current ratio of 1.42 and a debt-to-equity ratio of 0.27. The stock has a 50-day simple moving average of $63.76 and a 200-day simple moving average of $61.09. The firm has a market capitalization of $10.25 billion and a PE ratio of 86.08.

CCL Industries (OTCMKTS:CCDBF) last released its earnings results on Wednesday, February 25th. The company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.05). CCL Industries had a return on equity of 14.69% and a net margin of 10.47%.The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion.

CCL Industries Company Profile

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.