CCL Industries (TSE:CCL.B) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• CCL Industries shares crossed above their 200-day moving average of C$77.02 and reached a high of C$77.26 during trading, despite closing at C$75.82.
• Analysts from National Bankshares and BMO Capital Markets have raised their price targets for CCL Industries, with a consensus target price now at C$91.43 and a rating of "Buy".
• The company has a market cap of C$13.22 billion and a debt-to-equity ratio of 48.08, indicating a relatively stable financial position.

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$77.02 and traded as high as C$77.26. CCL Industries shares last traded at C$75.82, with a volume of 174,488 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently commented on CCL.B shares. National Bankshares raised their price objective on shares of CCL Industries from C$94.00 to C$96.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. BMO Capital Markets lifted their price target on shares of CCL Industries from C$91.00 to C$95.00 in a research report on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, CCL Industries presently has a consensus rating of "Buy" and a consensus target price of C$91.43.

CCL Industries Stock Down 1.0%

The business's 50 day moving average is C$79.80 and its 200 day moving average is C$77.02. 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 cap of C$13.22 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 0.26 and a beta of 0.54.

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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