CCL Industries (TSE:CCL.B) Shares Cross Above 200 Day Moving Average After Insider Selling

CCL Industries Inc. (TSE:CCL.B - Get Free Report) passed above its two hundred day moving average during trading on Wednesday after an insider bought additional shares in the company. The stock has a two hundred day moving average of C$73.23 and traded as high as C$78.51. CCL Industries shares last traded at C$77.90, with a volume of 240,265 shares changing hands.

Analyst Ratings Changes

CCL.B has been the subject of a number of research reports. BMO Capital Markets lifted their price target on shares of CCL Industries from C$90.00 to C$91.00 in a research report on Friday, May 9th. CIBC reduced their price target on shares of CCL Industries from C$96.00 to C$88.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, TD Securities lifted 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. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of C$89.25.

CCL Industries Price Performance

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 stock has a market capitalization of C$13.01 billion, a price-to-earnings ratio of 20.72, a P/E/G ratio of 0.26 and a beta of 0.57. The company has a 50-day moving average of C$75.82 and a 200-day moving average of C$73.23.

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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