CCL Industries (TSE:CCL.B) Stock Price Passes Above 200-Day Moving Average - Here's Why

CCL Industries Inc. (TSE:CCL.B - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$73.16 and traded as high as C$78.20. CCL Industries shares last traded at C$77.72, with a volume of 260,844 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. CIBC decreased their price objective on shares of CCL Industries from C$96.00 to C$88.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. TD Securities raised their price objective 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. Scotiabank increased their price target on shares of CCL Industries from C$85.00 to C$86.00 in a report on Friday, February 21st. Finally, BMO Capital Markets lifted their target price on shares of CCL Industries from C$90.00 to C$91.00 in a research report on Friday, May 9th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of C$89.25.

CCL Industries Stock Performance

The stock has a market cap of C$13.13 billion, a PE ratio of 20.91, a P/E/G ratio of 0.26 and a beta of 0.57. The stock has a 50-day moving average of C$73.52 and a 200 day moving average of C$73.16. The company has a quick ratio of 1.31, a current ratio of 1.96 and a debt-to-equity ratio of 48.08.

Insider Activity

In other CCL Industries news, insider CCL Industries Inc. bought 67,024 shares of the business's stock in a transaction dated Monday, March 17th. The shares were acquired at an average cost of C$71.66 per share, with a total value of C$4,803,114.10. Also, Director Tom Peddie sold 400 shares of the company's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of C$69.85, for a total transaction of C$27,940.00. Following the completion of the sale, the director now directly owns 100 shares of the company's stock, valued at C$6,985. The trade was a 80.00% decrease in their ownership of the stock. Over the last ninety days, insiders bought 115,678 shares of company stock valued at $8,398,455 and sold 79,480 shares valued at $6,139,610. Insiders own 11.22% of the company's stock.

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.