CIBC Forecasts Strong Price Appreciation for CCL Industries (TSE:CCL.B) Stock

CCL Industries (TSE:CCL.B) had its price target increased by investment analysts at CIBC from C$96.00 to C$97.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. CIBC’s target price points to a potential upside of 34.55% from the company’s previous close.

A number of other research analysts have also commented on the company. Royal Bank of Canada lowered their price objective on CCL Industries from C$92.00 to C$90.00 in a report on Friday, November 15th. Stifel Nicolaus raised their target price on shares of CCL Industries from C$85.00 to C$90.00 in a research note on Monday, November 18th. BMO Capital Markets boosted their target price on shares of CCL Industries from C$90.00 to C$93.00 in a research report on Friday, November 15th. Finally, TD Securities cut their price target on CCL Industries from C$98.00 to C$94.00 in a report on Friday, November 15th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, CCL Industries presently has a consensus rating of “Buy” and a consensus target price of C$90.25.

CCL Industries Trading Down 0.3 %

Shares of TSE:CCL.B opened at C$72.09 on Wednesday. The company has a current ratio of 1.96, a quick ratio of 1.31 and a debt-to-equity ratio of 48.08. The stock has a market capitalization of C$12.04 billion, a PE ratio of 19.17, a P/E/G ratio of 0.26 and a beta of 0.57. CCL Industries has a 1 year low of C$55.34 and a 1 year high of C$84.70. The firm has a fifty day moving average price of C$75.56 and a 200 day moving average price of C$76.57.

Insider Activity at CCL Industries

In other news, Senior Officer James Andrew Sellors sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of C$77.50, for a total transaction of C$775,000.00. Also, insider CCL Industries Inc. bought 67,024 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was purchased at an average price of C$78.37 per share, with a total value of C$5,252,845.14. Insiders have acquired a total of 201,072 shares of company stock valued at $15,572,229 over the last quarter. 11.22% of the stock is owned by company insiders.

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.