CCL Industries (TSE:CCL.B) Sets New 52-Week High – Still a Buy?

Shares of CCL Industries Inc. (TSE:CCL.B) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$94.66 and last traded at C$94.70, with a volume of 190234 shares. The stock had previously closed at C$92.95.

Analysts Set New Price Targets

Several equities analysts have weighed in on CCL.B shares. Stifel Nicolaus raised their target price on shares of CCL Industries from C$103.00 to C$105.00 and gave the company a “buy” rating in a report on Friday, May 15th. Royal Bank Of Canada lifted their price objective on CCL Industries from C$99.00 to C$100.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. ATB Cormark Capital Markets upped their target price on CCL Industries from C$101.00 to C$102.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. TD raised their price target on CCL Industries from C$105.00 to C$110.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, National Bank Financial boosted their price target on CCL Industries from C$102.00 to C$104.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$101.80.

CCL Industries Trading Up 2.2%

The firm has a fifty day moving average of C$88.99 and a 200-day moving average of C$87.57. The company has a debt-to-equity ratio of 48.08, a quick ratio of 1.31 and a current ratio of 1.96. The stock has a market capitalization of C$16.33 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 0.26 and a beta of 0.93.

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.