CCL Industries (TSE:CCL.B) Hits New 12-Month High – Time to Buy?

CCL Industries Inc. (TSE:CCL.B) reached a new 52-week high during trading on Wednesday. The company traded as high as C$109.64 and last traded at C$104.94, with a volume of 35,254 shares trading hands. The stock had previously closed at C$99.82.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CCL.B shares. National Bank Financial lifted their target price on CCL Industries from C$115.00 to C$119.00 and gave the stock an “outperform” rating in a research report on Thursday. BMO Capital Markets lifted their price target on CCL Industries from C$103.00 to C$110.00 in a report on Friday, August 14th. Raymond James Financial increased their target price on shares of CCL Industries from C$105.00 to C$108.00 and gave the company an “outperform” rating in a research report on Thursday. Stifel Nicolaus increased their price objective on shares of CCL Industries from C$115.00 to C$120.00 and gave the company a “buy” rating in a report on Thursday. Finally, TD set a C$115.00 price objective on shares of CCL Industries and gave the company a “buy” rating in a report on Thursday, September 10th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$111.00.

CCL Industries Price Performance

The company has a quick ratio of 1.31, a current ratio of 1.96 and a debt-to-equity ratio of 48.08. The stock’s 50 day moving average price is C$96.00 and its two-hundred day moving average price is C$90.38. The firm has a market capitalization of C$17.10 billion, a price-to-earnings ratio of 21.66, a P/E/G ratio of 0.26 and a beta of 0.79.

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.