CCL Industries (TSE:CCL.B) Sets New 1-Year High Following Analyst Upgrade

Shares of CCL Industries Inc. (TSE:CCL.B) reached a new 52-week high during trading on Tuesday after Royal Bank of Canada raised their price target on the stock from C$66.00 to C$73.00. The company traded as high as C$67.65 and last traded at C$67.15, with a volume of 234194 shares. The stock had previously closed at C$66.39.

A number of other analysts also recently commented on the stock. BMO Capital Markets boosted their price objective on shares of SilverCrest Metals from C$6.50 to C$7.00 in a report on Thursday, May 16th. CIBC reissued a “hold” rating and set a $3.00 price objective on shares of Information Services Group in a report on Thursday, May 16th. Finally, TD Securities decreased their price objective on shares of Power Financial from C$35.00 to C$34.00 in a report on Thursday, May 16th.

In related news, Senior Officer James Andrew Sellors sold 25,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of C$59.50, for a total transaction of C$1,487,500.00. Following the sale, the insider now owns 40,950 shares of the company’s stock, valued at C$2,436,525. In the last three months, insiders have sold 25,200 shares of company stock worth $1,499,709.

The firm has a market capitalization of $11.11 billion and a P/E ratio of 25.46. The company has a current ratio of 1.82, a quick ratio of 1.32 and a debt-to-equity ratio of 99.11. The firm’s fifty day moving average price is C$64.02.

About CCL Industries (TSE:CCL.B)

CCL Industries Inc manufactures and sells labels, containers, 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 specialty extruded film materials for decorative, instructional, functional, and security applications in the consumer packaging, healthcare, chemicals, consumer electronic device, and automotive markets.

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