CCL Industries (TSE:CCL.B) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

CCL Industries Inc. (TSE:CCL.B - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$73.30 and traded as high as C$79.33. CCL Industries shares last traded at C$78.62, with a volume of 347,647 shares trading hands.

Wall Street Analysts Forecast Growth

CCL.B has been the topic of several analyst reports. Scotiabank lifted their price target on shares of CCL Industries from C$85.00 to C$86.00 in a report on Friday, February 21st. BMO Capital Markets upped their target price on CCL Industries from C$90.00 to C$91.00 in a research report on Friday, May 9th. TD Securities increased their price target on CCL Industries from C$90.00 to C$95.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, CIBC lowered their price target on CCL Industries from C$96.00 to C$88.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$89.25.

CCL Industries Price Performance

The stock has a 50 day moving average of C$71.61 and a 200-day moving average of C$73.21. 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 company has a market cap of C$13.14 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 0.26 and a beta of 0.57.

Insider Activity

In other CCL Industries news, Director Mark Cooper sold 5,556 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of C$71.94, for a total value of C$399,707.53. Also, insider CCL Industries Inc. acquired 67,024 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of C$73.98 per share, with a total value of C$4,958,609.78. Over the last three months, insiders have bought 169,402 shares of company stock valued at $12,293,509 and have sold 87,427 shares valued at $6,715,838. Corporate 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.