CCL Industries (TSE:CCL.B) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• CCL Industries Inc. shares have crossed above their 200-day moving average, indicating a potential upward trend, with the stock last trading at C$78.07.
• Several analysts have adjusted their price targets for CCL Industries, with CIBC lowering their target to C$88.00, while TD Securities raised theirs to C$95.00, reflecting a mix of outlooks.
• Insider activity shows mixed sentiment, with an insider purchasing 13,300 shares at C$79.97 while another sold 38,016 shares at C$75.69, highlighting differing perspectives on the company's stock value.

CCL Industries Inc. (TSE:CCL.B - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$74.40 and traded as high as C$78.64. CCL Industries shares last traded at C$78.07, with a volume of 174,303 shares.

Wall Street Analysts Forecast Growth

CCL.B has been the topic of several recent research reports. TD Securities raised their target price on 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 raised their price objective on CCL Industries from C$90.00 to C$91.00 in a research note on Friday, May 9th. Finally, CIBC dropped 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, CCL Industries currently has a consensus rating of "Buy" and an average price target of C$89.25.

CCL Industries Stock Up 0.5%

The stock has a market capitalization of C$13.12 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 0.26 and a beta of 0.57. The firm has a 50 day simple moving average of C$78.71 and a 200-day simple moving average of C$74.47. The company has a debt-to-equity ratio of 48.08, a current ratio of 1.96 and a quick ratio of 1.31.

Insider Activity

In other news, insider Stuart W. Lang sold 38,016 shares of CCL Industries stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of C$75.69, for a total value of C$2,877,431.04. Also, insider CCL Industries Inc. bought 13,300 shares of CCL Industries stock in a transaction dated Friday, May 30th. The stock was acquired at an average cost of C$79.97 per share, for a total transaction of C$1,063,555.78. Over the last quarter, insiders sold 98,200 shares of company stock valued at $7,640,654. Company 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.