National Bankshares Forecasts Strong Price Appreciation for CCL Industries (TSE:CCL.B) Stock

Key Points

• National Bankshares has increased the price target for CCL Industries from C$94.00 to C$96.00, indicating a potential upside of 19.25% from the current stock price.
• Other analysts have varied opinions, with BMO Capital Markets also raising their target to C$95.00 while CIBC lowered theirs to C$88.00.
• Insider selling was noted, with directors selling shares for total amounts of approximately C$1.9 million and C$790,000 respectively.

CCL Industries (TSE:CCL.B - Free Report) had its target price upped by National Bankshares from C$94.00 to C$96.00 in a research report report published on Friday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research firms have also recently weighed in on CCL.B. CIBC decreased their target price on CCL Industries from C$96.00 to C$88.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. TD Securities boosted their target price on CCL Industries from C$90.00 to C$95.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, 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. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of C$91.43.

CCL Industries Stock Down 0.1%

CCL.B stock traded down C$0.08 during trading on Friday, hitting C$82.07. 199,313 shares of the company's stock were exchanged, compared to its average volume of 288,615. The business has a 50-day moving average price of C$79.05 and a two-hundred day moving average price of C$74.84. The stock has a market capitalization of C$13.71 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 0.26 and a beta of 0.57. CCL Industries has a 52-week low of C$64.93 and a 52-week high of C$84.70. The company has a current ratio of 1.96, a quick ratio of 1.31 and a debt-to-equity ratio of 48.08.

Insiders Place Their Bets

In other CCL Industries news, Director Gunther Johann Birkner sold 10,000 shares of CCL Industries stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of C$79.00, for a total transaction of C$790,000.00. Also, Director Ben Yaacob Lilienthal sold 24,200 shares of CCL Industries 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. 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.