CCL Industries (OTCMKTS:CCDBF) Shares Gap Down – Here’s What Happened

CCL Industries Inc. (OTCMKTS:CCDBF) shares gapped down prior to trading on Tuesday . The stock had previously closed at $63.16, but opened at $59.50. CCL Industries shares last traded at $59.50, with a volume of 3 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on CCDBF shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of CCL Industries in a research report on Thursday, December 18th. Scotiabank cut shares of CCL Industries from an “outperform” rating to a “sector perform” rating in a research report on Thursday, January 29th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

CCL Industries Stock Down 0.7%

The company has a market capitalization of $10.08 billion and a price-to-earnings ratio of 84.33. The firm’s 50 day moving average price is $63.41 and its two-hundred day moving average price is $60.78. The company has a current ratio of 1.42, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27.

CCL Industries (OTCMKTS:CCDBF) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.05). The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. CCL Industries had a return on equity of 14.69% and a net margin of 10.47%.

CCL Industries Company Profile

CCL Industries is a global specialty packaging company focused on the design and manufacture of pressure-sensitive and speciality labels, flexible packaging, tubes, and security products. The company serves a wide range of end markets, including consumer goods, healthcare, personal care, food and beverage, automotive, electronics, and industrial markets. Its portfolio comprises pressure-sensitive labels, shrink sleeves, in-mold labels, flexible packaging for food and other consumer products, and security-focused solutions such as tamper-evident seals and authentication systems.

Founded in 1951 and headquartered in Toronto, Ontario, CCL Industries has grown through a combination of organic innovation and strategic acquisitions.