CCL Industries (TSE:CCL.B) Shares Cross Above 200-Day Moving Average - Should You Sell?

Key Points

• CCL Industries' stock price has crossed above its 200-day moving average, indicating potential bullish momentum, trading at C$80.15, significantly above the average of C$74.62.
• Analysts have set varying price targets, with TD Securities raising their target to C$95.00 while CIBC has lowered theirs to C$88.00, reflecting differing outlooks on the stock's performance.
• Insider transactions show confidence in the company, with an insider purchasing 13,300 shares for approximately C$1.06 million, while another director sold 24,200 shares for about C$1.90 million.

Shares of CCL Industries Inc. (TSE:CCL.B - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$74.62 and traded as high as C$83.07. CCL Industries shares last traded at C$80.15, with a volume of 352,066 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CCL.B shares. CIBC lowered their price target on shares of CCL Industries from C$96.00 to C$88.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. TD Securities boosted their price target on shares of CCL Industries from C$90.00 to C$95.00 and gave the company a "buy" rating in a research report on Friday, May 9th. BMO Capital Markets upped their target price on shares of CCL Industries from C$91.00 to C$95.00 in a research report on Friday. Finally, National Bankshares upped 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 report on Friday.

CCL Industries Price Performance

The stock's 50-day simple moving average is C$78.84 and its 200 day simple moving average is C$74.67. The company has a quick ratio of 1.31, a current ratio of 1.96 and a debt-to-equity ratio of 48.08. The company has a market cap of C$13.47 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 0.26 and a beta of 0.57.

Insiders Place Their Bets

In other CCL Industries news, Director Ben Yaacob Lilienthal sold 24,200 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of C$78.50, for a total transaction of C$1,899,700.00. Also, insider CCL Industries Inc. purchased 13,300 shares of the business's stock in a transaction on Friday, May 30th. The shares were acquired at an average price of C$79.97 per share, for a total transaction of C$1,063,555.78. Insiders own 11.22% of the company's stock.

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.