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

Key Points

• CCL Industries' stock has recently crossed above its 200-day moving average, trading as high as C$81.98 before closing at C$79.85.
• Analysts from BMO Capital Markets and National Bankshares have raised their price targets for CCL Industries stock, with the average target now at C$91.43.
• Company insiders, including directors, have sold substantial shares recently, indicating potential shifts in their confidence regarding the stock's future performance.

Shares of CCL Industries Inc. (TSE:CCL.B - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$76.20 and traded as high as C$81.98. CCL Industries shares last traded at C$79.85, with a volume of 161,103 shares traded.

Analyst Ratings Changes

CCL.B has been the subject of several recent analyst reports. BMO Capital Markets boosted their target price on CCL Industries from C$91.00 to C$95.00 in a research note on Friday, August 15th. National Bankshares boosted their target price on CCL Industries from C$94.00 to C$96.00 and gave the stock an "outperform" rating in a research note on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of C$91.43.

CCL Industries Stock Performance

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 stock has a 50 day simple moving average of C$80.03 and a two-hundred day simple moving average of C$76.33. The company has a market cap of C$13.92 billion, a PE ratio of 17.90, a PEG ratio of 0.26 and a beta of 0.51.

Insider Buying and Selling

In other CCL Industries news, Director Ben Yaacob Lilienthal sold 24,200 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of C$78.50, for a total value of C$1,899,700.00. Also, Director Gunther Johann Birkner sold 10,000 shares of the business's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of C$79.00, for a total value of C$790,000.00. 11.22% of the stock is currently owned by 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.