CCL Industries (TSE:CCL.B) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Shares of CCL Industries Inc. (TSE:CCL.B - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$73.13 and traded as high as C$80.23. CCL Industries shares last traded at C$79.49, with a volume of 349,246 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CCL.B shares. TD Securities upped their price objective on shares of CCL Industries from C$90.00 to C$95.00 and gave the company a "buy" rating in a report on Friday, May 9th. BMO Capital Markets upped their price objective on shares of CCL Industries from C$90.00 to C$91.00 in a report on Friday, May 9th. CIBC cut their price objective on shares of CCL Industries from C$96.00 to C$88.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, Scotiabank increased their price target on shares of CCL Industries from C$85.00 to C$86.00 in a report on Friday, February 21st. Six research analysts have rated the stock with a buy rating, According to MarketBeat, CCL Industries presently has a consensus rating of "Buy" and a consensus target price of C$89.25.

CCL Industries Trading Down 0.3%

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 firm has a market cap of C$13.10 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 0.26 and a beta of 0.57. The company's 50 day moving average price is C$72.70 and its 200 day moving average price is C$73.13.

Insider Activity

In other news, Director Tom Peddie sold 400 shares of the business's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of C$69.85, for a total value of C$27,940.00. Following the transaction, the director now owns 100 shares of the company's stock, valued at approximately C$6,985. The trade was a 80.00% decrease in their ownership of the stock. Also, insider CCL Industries Inc. acquired 35,354 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was purchased at an average cost of C$71.61 per share, for a total transaction of C$2,531,784.79. In the last quarter, insiders sold 81,621 shares of company stock worth $6,298,001. 11.22% of the stock is currently owned by company insiders.

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.