CCL Industries Inc. (OTCMKTS:CCDBF) was the target of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 382,700 shares, a decline of 25.2% from the March 31st total of 511,300 shares. Based on an average daily trading volume, of 300 shares, the short-interest ratio is currently 1,275.7 days.
Several equities analysts have recently issued reports on CCDBF shares. TD Securities boosted their price objective on CCL Industries from $68.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, February 26th. Royal Bank of Canada boosted their target price on CCL Industries from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, February 26th. CIBC boosted their target price on CCL Industries from $75.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday. Raymond James boosted their target price on CCL Industries from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, March 1st. Finally, Scotiabank boosted their target price on CCL Industries from $72.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, February 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. CCL Industries has an average rating of “Buy” and an average price target of $72.25.
Shares of OTCMKTS CCDBF remained flat at $$58.56 during trading on Tuesday. CCL Industries has a fifty-two week low of $28.23 and a fifty-two week high of $58.56. The business has a fifty day moving average of $56.05 and a 200 day moving average of $48.99.
CCL Industries Inc manufactures and sells labels, 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 extruded film materials for decorative, instructional, security, and functional applications in the consumer packaging, healthcare, chemicals, consumer durables, electronic device, and automotive markets.
Further Reading: Calculating net profit and net profit margin ratio
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