CCL Industries (TSE:CCL.B) Hits New 1-Year High - Here's What Happened

Key Points

• New 52-week high: Shares of CCL Industries (TSE:CCL.B) hit an intraday 52-week high of C$90.85 and last traded at C$89.50 on a volume of 129,231 shares.
• Analyst updates: Multiple analysts raised target prices (TD C$105, Raymond James C$100, National Bank C$102), leaving a consensus "Moderate Buy" with an average target of C$99.50.
• Fundamentals: CCL has a market cap of C$15.47 billion, P/E of ~19.5 and debt-to-equity ~48%, and sells packaging-related products across its CCL, Avery and Checkpoint segments.

Shares of CCL Industries Inc. (TSE:CCL.B - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$90.85 and last traded at C$89.50, with a volume of 129231 shares changing hands. The stock had previously closed at C$88.59.

Wall Street Analyst Weigh In

CCL.B has been the subject of several recent research reports. TD Securities lifted their target price on shares of CCL Industries from C$100.00 to C$105.00 in a report on Wednesday, January 21st. Raymond James Financial lifted their target price on shares of CCL Industries from C$95.00 to C$100.00 in a report on Friday, February 27th. National Bank Financial lifted their target price on shares of CCL Industries from C$100.00 to C$102.00 and gave the company an "outperform" rating in a report on Tuesday, March 17th. Finally, Scotiabank lowered shares of CCL Industries from an "outperform" rating to a "sector perform" rating and lifted their target price for the company from C$94.00 to C$96.00 in a report on Thursday, January 29th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$99.50.

CCL Industries Stock Up 0.8%

The company has a market cap of C$15.47 billion, a P/E ratio of 19.54, a P/E/G ratio of 0.26 and a beta of 0.86. The company has a debt-to-equity ratio of 48.08, a current ratio of 1.96 and a quick ratio of 1.31. The company's 50-day moving average is C$87.18 and its two-hundred day moving average is C$84.25.

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. 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.

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