CCL Industries (TSE:CCL.B) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Shares of CCL Industries Inc. (TSE:CCL.B - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$73.56 and traded as high as C$77.30. CCL Industries shares last traded at C$77.26, with a volume of 568,917 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CCL.B. Scotiabank boosted their price objective on CCL Industries from C$85.00 to C$86.00 in a research note on Friday, February 21st. BMO Capital Markets upped their target price on shares of CCL Industries from C$90.00 to C$91.00 in a research report on Friday, May 9th. CIBC dropped their price target on CCL Industries from C$96.00 to C$88.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, TD Securities increased their price objective on CCL Industries from C$90.00 to C$95.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of C$89.25.

CCL Industries Trading Down 1.0%

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 capitalization of C$12.63 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 0.26 and a beta of 0.57. The business has a 50 day simple moving average of C$70.63 and a 200-day simple moving average of C$73.47.

Insider Buying and Selling

In related news, Director Tom Peddie sold 400 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of C$69.85, for a total transaction of C$27,940.00. Following the completion of the transaction, the director now owns 100 shares of the company's stock, valued at C$6,985. This trade represents a 80.00% decrease in their ownership of the stock. Also, insider Stuart W. Lang sold 25,984 shares of CCL Industries stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of C$79.80, for a total transaction of C$2,073,523.20. In the last ninety days, insiders have purchased 169,402 shares of company stock valued at $12,293,509 and have sold 49,411 shares valued at $3,838,407. 11.22% of the stock is currently owned by corporate insiders.

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.