Raymond James Financial Issues Positive Forecast for CCL Industries (TSE:CCL.B) Stock Price

Key Points

• Raymond James raised CCL Industries’ price target to C$105 from C$100 while maintaining an “outperform” rating, implying 8.92% potential upside.
• Several other brokerages also increased their targets, with consensus at C$106.60 and an overall “Moderate Buy” rating based on six Buy ratings and one Hold.
• CCL.B shares rose 0.4% to C$96.40, near their 52-week high of C$98.59; the company has a C$16.57 billion market capitalization and operates across packaging, labeling, and inventory-management businesses.

CCL Industries (TSE:CCL.B - Get Free Report) had its price objective increased by stock analysts at Raymond James Financial from C$100.00 to C$105.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's price target suggests a potential upside of 8.92% from the stock's current price.

Other analysts also recently issued research reports about the stock. National Bank Financial raised 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 report on Friday. TD lifted their target price on shares of CCL Industries from C$110.00 to C$115.00 and gave the stock a "buy" rating in a research report on Friday. Stifel Nicolaus increased their price target on CCL Industries from C$103.00 to C$105.00 and gave the company a "buy" rating in a report on Friday, May 15th. BMO Capital Markets lifted their price objective on CCL Industries from C$103.00 to C$110.00 in a report on Friday. Finally, ATB Cormark Capital Markets increased their target price on CCL Industries from C$102.00 to C$104.00 and gave the company an "outperform" rating in a report on Friday. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, CCL Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of C$106.60.

CCL Industries Stock Up 0.4%

Shares of CCL.B stock traded up C$0.42 during mid-day trading on Friday, hitting C$96.40. The company's stock had a trading volume of 203,592 shares, compared to its average volume of 385,215. The stock has a market cap of C$16.57 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 0.26 and a beta of 0.95. The company has a debt-to-equity ratio of 48.08, a quick ratio of 1.31 and a current ratio of 1.96. CCL Industries has a 52-week low of C$74.69 and a 52-week high of C$98.59. The business has a 50-day moving average price of C$90.17 and a 200 day moving average price of C$87.96.

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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