CCL Industries (TSE:CCL.B) Stock Passes Above 200-Day Moving Average - What's Next?

Key Points

• Technical breakout: CCL.B shares crossed above their 200-day moving average (200-day MA C$84.61), trading as high as C$87.60 and last at C$87.45 on volume of 307,126 shares.
• Analyst sentiment: Multiple brokerages have raised price targets recently, leaving a consensus rating of Moderate Buy with an average target of C$99.50 (three Buys, one Hold).
• Valuation and business: The company has a market cap of C$15.14 billion, a PE of 19.14 and PEG of 0.26, and operates packaging and label businesses across CCL, Avery and Checkpoint segments.

CCL Industries Inc. (TSE:CCL.B - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$84.61 and traded as high as C$87.60. CCL Industries shares last traded at C$87.45, with a volume of 307,126 shares.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CCL.B. National Bank Financial upped their price objective on CCL Industries from C$100.00 to C$102.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. TD Securities upped their target price on shares of CCL Industries from C$100.00 to C$105.00 in a research report on Wednesday, January 21st. Scotiabank lowered CCL Industries from an "outperform" rating to a "sector perform" rating and increased their price target for the company from C$94.00 to C$96.00 in a report on Thursday, January 29th. Finally, Raymond James Financial increased their price target on CCL Industries from C$95.00 to C$100.00 in a report on Friday, February 27th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$99.50.

CCL Industries Stock Performance

The company has a quick ratio of 1.31, a current ratio of 1.96 and a debt-to-equity ratio of 48.08. The business has a 50 day simple moving average of C$87.59 and a two-hundred day simple moving average of C$84.61. The firm has a market cap of C$15.14 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 0.26 and a beta of 0.86.

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. The Avery segment sells software, labels, tags, dividers, badges, and specialty card products under the Avery brand. The Checkpoint segment includes the manufacturing and selling of technology-driven, inventory management and labeling solutions.

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