BMO Capital Markets Forecasts Strong Price Appreciation for CCL Industries (TSE:CCL.B) Stock

Key Points

• BMO Capital Markets has raised its target price for CCL Industries stock from C$91.00 to C$95.00, indicating a potential upside of 18.01% from its current price.
• Shares of CCL Industries traded up 0.4% to reach C$80.50, with a market capitalization of C$13.45 billion and a PE ratio of 21.41.
• Insider activity included the purchase of 13,300 shares by the company itself and the sale of 10,000 shares by a director, indicating significant internal trading decisions.

CCL Industries (TSE:CCL.B - Get Free Report) had its target price raised by equities research analysts at BMO Capital Markets from C$91.00 to C$95.00 in a research note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets' price objective points to a potential upside of 18.01% from the stock's current price.

Several other equities analysts have also issued reports on the stock. TD Securities lifted their price target on shares of CCL Industries from C$90.00 to C$95.00 and gave the stock a "buy" rating in a report on Friday, May 9th. CIBC lowered their price objective on shares of CCL Industries from C$96.00 to C$88.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd.

CCL Industries Trading Up 0.4%

Shares of TSE:CCL.B traded up C$0.35 during trading on Friday, reaching C$80.50. 157,661 shares of the company were exchanged, compared to its average volume of 289,406. The firm has a market capitalization of C$13.45 billion, a PE ratio of 21.41, a P/E/G ratio of 0.26 and a beta of 0.57. The business's fifty day simple moving average is C$78.79 and its 200-day simple moving average is C$74.62. CCL Industries has a 12-month low of C$64.93 and a 12-month high of C$84.70. The company has a debt-to-equity ratio of 48.08, a current ratio of 1.96 and a quick ratio of 1.31.

Insider Activity at CCL Industries

In other CCL Industries news, insider CCL Industries Inc. purchased 13,300 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was purchased at an average price of C$79.97 per share, for a total transaction of C$1,063,555.78. Also, Director Gunther Johann Birkner sold 10,000 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of C$79.00, for a total transaction of C$790,000.00. Insiders own 11.22% of the company's stock.

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.

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