Scotiabank Boosts CCL Industries (TSE:CCL.B) Price Target to C$86.00

CCL Industries (TSE:CCL.B) had its price target raised by research analysts at Scotiabank from C$85.00 to C$86.00 in a note issued to investors on Friday,BayStreet.CA reports. Scotiabank’s price objective suggests a potential upside of 16.91% from the stock’s previous close.

Several other research analysts have also recently weighed in on CCL.B. CIBC upped their price objective on CCL Industries from C$96.00 to C$97.00 in a research report on Wednesday, January 15th. BMO Capital Markets raised their target price on shares of CCL Industries from C$90.00 to C$93.00 in a report on Friday, November 15th. Royal Bank of Canada lowered their price target on CCL Industries from C$92.00 to C$90.00 in a report on Friday, November 15th. TD Securities lowered their price objective on CCL Industries from C$98.00 to C$94.00 in a research note on Friday, November 15th. Finally, Stifel Nicolaus lifted their target price on shares of CCL Industries from C$85.00 to C$90.00 in a research note on Monday, November 18th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, CCL Industries currently has a consensus rating of “Buy” and a consensus price target of C$90.50.

CCL Industries Price Performance

CCL.B traded down C$0.40 during midday trading on Friday, reaching C$73.56. 235,401 shares of the company’s stock were exchanged, compared to its average volume of 273,670. 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 business has a 50-day simple moving average of C$72.57 and a two-hundred day simple moving average of C$76.51. CCL Industries has a one year low of C$63.16 and a one year high of C$84.70. The firm has a market capitalization of C$12.29 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 0.26 and a beta of 0.57.

Insider Transactions at CCL Industries

In other news, Senior Officer James Andrew Sellors sold 10,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of C$77.50, for a total transaction of C$775,000.00. Also, insider CCL Industries Inc. purchased 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. Over the last three months, insiders have bought 201,072 shares of company stock valued at $15,572,229. 11.22% of the stock is currently owned by 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.