CCL Industries (TSE:CCL.B) Shares Pass Above 200-Day Moving Average - Here's Why

Shares of CCL Industries Inc. (TSE:CCL.B - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$73.69 and traded as high as C$79.74. CCL Industries shares last traded at C$79.35, with a volume of 216,720 shares changing hands.

Analyst Ratings Changes

Several analysts recently commented on the company. 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 research report on Friday, May 9th. BMO Capital Markets upped their price target on shares of CCL Industries from C$90.00 to C$91.00 in a research report on Friday, May 9th. Finally, CIBC cut 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 report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$89.25.

CCL Industries Trading Down 1.3%

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 company has a market cap of C$13.16 billion, a PE ratio of 20.94, a P/E/G ratio of 0.26 and a beta of 0.57. The business's 50-day simple moving average is C$78.38 and its 200-day simple moving average is C$73.72.

Insider Buying and Selling at CCL Industries

In other CCL Industries news, insider CCL Industries Inc. purchased 13,300 shares of the firm's stock in a transaction on Friday, May 30th. The shares were purchased at an average cost of C$79.97 per share, with a total value of C$1,063,555.78. Also, Director Ben Yaacob Lilienthal sold 24,200 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of C$78.50, for a total transaction of C$1,899,700.00. Insiders have sold 113,200 shares of company stock valued at $8,795,654 in the last quarter. 11.22% of the stock is currently owned by corporate insiders.

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.