CCL Industries (TSE:CCL.B) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised CCL Industries’ price target from C$100 to C$107 and maintained an “outperform” rating, implying approximately 11% upside from the previous close.
• Analyst sentiment is broadly positive: six analysts rate the stock a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average target of C$106.60.
• CCL.B shares rose 0.4% to C$96.40, near their 52-week high of C$98.59, while the company’s packaging businesses include pressure-sensitive labels, Avery products, and inventory-management solutions.

CCL Industries (TSE:CCL.B - Get Free Report) had its price objective boosted by investment analysts at Royal Bank Of Canada from C$100.00 to C$107.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 11.00% from the stock's previous close.

Several other analysts have also recently commented on the stock. Canadian Imperial Bank of Commerce upped their target price on shares of CCL Industries from C$104.00 to C$113.00 in a research report on Friday. Stifel Nicolaus raised their target price on CCL Industries from C$103.00 to C$105.00 and gave the stock a "buy" rating in a report on Friday, May 15th. ATB Cormark Capital Markets upped their price target on CCL Industries from C$102.00 to C$104.00 and gave the company an "outperform" rating in a research note on Friday. National Bank Financial increased their price target on shares of CCL Industries from C$104.00 to C$106.00 and gave the company an "outperform" rating in a research report on Friday. Finally, TD boosted their price objective on shares of CCL Industries from C$110.00 to C$115.00 and gave the company a "buy" rating in a report on Friday. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, CCL Industries has an average rating of "Moderate Buy" and a consensus price target of C$106.60.

CCL Industries Trading Up 0.4%

Shares of CCL.B traded up C$0.42 during trading hours on Friday, hitting C$96.40. 203,592 shares of the stock traded hands, compared to its average volume of 385,215. The business has a fifty day moving average of C$90.17 and a 200-day moving average of C$87.96. The firm has a market capitalization of C$16.57 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 0.26 and a beta of 0.95. CCL Industries has a 1-year low of C$74.69 and a 1-year high of C$98.59. The company has a current ratio of 1.96, a quick ratio of 1.31 and a debt-to-equity ratio of 48.08.

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. 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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