CCL Industries (TSE:CCL.B) Shares Pass Above 200-Day Moving Average – Here’s Why

CCL Industries Inc. (TSE:CCL.B)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$73.50 and traded as high as C$80.54. CCL Industries shares last traded at C$80.51, with a volume of 191,330 shares trading hands.

Analyst Ratings Changes

Several research analysts have commented on CCL.B shares. Raymond James raised their target price on shares of CCL Industries from C$84.00 to C$87.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. TD Securities lifted their target price on shares of CCL Industries from C$90.00 to C$92.00 and gave the company a “buy” rating in a research note on Monday, August 12th. National Bankshares increased their target price on shares of CCL Industries from C$84.00 to C$87.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Scotiabank boosted their price target on CCL Industries from C$80.00 to C$84.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Finally, CIBC increased their price objective on CCL Industries from C$86.00 to C$88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, CCL Industries currently has an average rating of “Buy” and a consensus price target of C$85.44.

CCL Industries Stock Performance

The stock has a market cap of C$13.45 billion, a P/E ratio of 21.41, a P/E/G ratio of 0.26 and a beta of 0.57. The firm has a 50 day moving average of C$77.89 and a two-hundred day moving average of C$73.50. The company has a debt-to-equity ratio of 48.08, a quick ratio of 1.31 and a current ratio of 1.96.

Insider Activity

In related news, insider CCL Industries Inc. purchased 67,024 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were bought at an average cost of C$76.93 per share, for a total transaction of C$5,155,915.03. In other news, insider CCL Industries Inc. acquired 67,024 shares of CCL Industries stock in a transaction on Friday, August 30th. The stock was bought at an average price of C$76.93 per share, for a total transaction of C$5,155,915.03. Also, Senior Officer Mark Mcclendon sold 400 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$73.47, for a total value of C$29,388.00. Over the last three months, insiders sold 121,781 shares of company stock valued at $9,405,624. 11.22% of the stock is owned by company insiders.

About CCL Industries

CCL Industries Inc manufactures and sells labels, containers, consumer printable media products, technology driven label solutions, polymer bank note substrates, and specialty films. The company operates through four segments: CCL, Avery, Checkpoint, and Innovia. The CCL segment offers pressure sensitive and specialty extruded film materials for decorative, instructional, functional, and security applications in the consumer packaging, healthcare, chemicals, consumer electronic device, and automotive markets.