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

Key Points

• CCL Industries Inc. shares recently crossed above their 200-day moving average, indicating potential upward momentum in the stock prices.
• Analysts have raised their price targets significantly, with recommendations of "outperform" and a consensus target of C$91.43, suggesting a positive outlook for the stock.
• The company's market capitalization stands at C$13.77 billion, with solid financial ratios indicating a stable operating environment.

CCL Industries Inc. (TSE:CCL.B - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$76.46 and traded as high as C$80.64. CCL Industries shares last traded at C$78.95, with a volume of 970,559 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CCL.B shares. National Bankshares raised their price target 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, August 15th. BMO Capital Markets raised 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 equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, CCL Industries presently has a consensus rating of "Buy" and a consensus price target of C$91.43.

CCL Industries Stock Performance

The company's 50-day simple moving average is C$80.00 and its 200 day simple moving average is C$76.46. The company has a current ratio of 1.96, a quick ratio of 1.31 and a debt-to-equity ratio of 48.08. The stock has a market cap of C$13.77 billion, a P/E ratio of 17.70, a PEG ratio of 0.26 and a beta of 0.51.

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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