CCL Industries (TSE:CCL.B) Price Target Cut to C$96.00 by Analysts at CIBC

CCL Industries (TSE:CCL.B) had its price objective reduced by research analysts at CIBC from C$97.00 to C$96.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price target points to a potential upside of 30.08% from the company’s current price.

A number of other analysts also recently issued reports on the company. BMO Capital Markets lifted their price target on CCL Industries from C$90.00 to C$93.00 in a report on Friday, November 15th. Stifel Nicolaus lifted their price target on shares of CCL Industries from C$85.00 to C$90.00 in a report on Monday, November 18th. TD Securities cut their price target on CCL Industries from C$98.00 to C$94.00 in a research note on Friday, November 15th. Royal Bank of Canada cut their target price on shares of CCL Industries from C$92.00 to C$90.00 in a report on Friday, November 15th. Finally, Scotiabank raised their price objective on shares of CCL Industries from C$85.00 to C$86.00 in a research note on Friday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, CCL Industries presently has an average rating of “Buy” and an average price target of C$90.38.

CCL Industries Price Performance

Shares of CCL Industries stock traded up C$1.15 on Tuesday, hitting C$73.80. The company’s stock had a trading volume of 125,708 shares, compared to its average volume of 280,687. CCL Industries has a 1 year low of C$66.96 and a 1 year high of C$84.70. The company has a market capitalization of C$12.33 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 0.26 and a beta of 0.57. The firm has a fifty day moving average price of C$72.50 and a 200-day moving average price of C$76.49. The company has a debt-to-equity ratio of 48.08, a quick ratio of 1.31 and a current ratio of 1.96.

Insider Activity

In related news, Director Derek Cumming sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of C$78.25, for a total transaction of C$273,889.70. Also, insider CCL Industries Inc. bought 67,024 shares of CCL Industries stock in a transaction on Friday, November 29th. The stock was acquired at an average cost of C$77.55 per share, with a total value of C$5,197,557.04. Insiders purchased 201,072 shares of company stock valued at $15,572,229 over the last three months. Insiders own 11.22% of the company’s stock.

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.