CCL Industries (TSE:CCL.B) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

CCL Industries Inc. (TSE:CCL.B)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$76.56 and traded as low as C$71.68. CCL Industries shares last traded at C$71.83, with a volume of 240,394 shares.

Analyst Ratings Changes

Several research analysts have issued reports on CCL.B shares. TD Securities dropped their price target on CCL Industries from C$98.00 to C$94.00 in a report on Friday, November 15th. CIBC upped their target price on CCL Industries from C$93.00 to C$96.00 in a report on Monday, November 18th. Royal Bank of Canada dropped their price target on CCL Industries from C$92.00 to C$90.00 in a research note on Friday, November 15th. Stifel Nicolaus upped their price objective on shares of CCL Industries from C$85.00 to C$90.00 in a research note on Monday, November 18th. Finally, BMO Capital Markets lifted their target price on shares of CCL Industries from C$90.00 to C$93.00 in a research report on Friday, November 15th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CCL Industries currently has a consensus rating of “Buy” and a consensus price target of C$90.13.

CCL Industries Stock Performance

The company has a market cap of C$12.00 billion, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 0.26 and a beta of 0.57. 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$76.17 and its 200 day moving average price is C$76.56.

Insider Activity

In other CCL Industries news, insider CCL Industries Inc. acquired 67,024 shares of CCL Industries stock in a transaction dated Friday, November 29th. The stock was bought at an average cost of C$77.55 per share, with a total value of C$5,197,557.04. Also, Director Derek Cumming sold 3,500 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of C$78.25, for a total transaction of C$273,889.70. Over the last three months, insiders acquired 201,072 shares of company stock valued at $15,572,229. 11.22% of the stock is owned by company insiders.

CCL Industries Company Profile

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.