Short Interest in CCL Industries Inc. (OTCMKTS:CCDBF) Increases By 53.6%

CCL Industries Inc. (OTCMKTS:CCDBFGet Rating) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 514,100 shares, a growth of 53.6% from the April 30th total of 334,600 shares. Based on an average trading volume of 600 shares, the days-to-cover ratio is currently 856.8 days.

Shares of CCL Industries stock opened at $47.55 on Friday. The firm’s 50-day simple moving average is $45.32 and its 200-day simple moving average is $48.65. CCL Industries has a twelve month low of $41.61 and a twelve month high of $59.41.

Several research analysts recently commented on the stock. BMO Capital Markets dropped their target price on shares of CCL Industries from C$80.00 to C$79.00 in a report on Friday, May 13th. Raymond James dropped their price objective on shares of CCL Industries from C$81.00 to C$79.00 in a report on Monday, February 28th. Royal Bank of Canada dropped their price objective on shares of CCL Industries from C$80.00 to C$74.00 in a report on Friday, May 13th. TD Securities dropped their price objective on shares of CCL Industries from C$80.00 to C$70.00 in a report on Tuesday, March 1st. Finally, Scotiabank dropped their price objective on shares of CCL Industries from C$79.00 to C$78.00 in a report on Friday, May 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $76.67.

About CCL Industries (Get Rating)

CCL Industries Inc engages in manufacture and sale of labels, and provides media and software solutions. It operates through four segments: CCL, Avery, Checkpoint, and Innovia. The CCL segment offers pressure sensitive and extruded film materials for decorative, instructional, security, and functional applications in the consumer packaging, healthcare, chemicals, consumer durables, electronic device, and automotive markets.

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