CIBC Lowers CCL Industries (TSE:CCL.B) Price Target to C$96.00

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

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

CCL Industries Stock Performance

Shares of CCL Industries stock traded up C$1.15 during trading on Tuesday, hitting C$73.80. 125,708 shares of the stock were exchanged, compared to its average volume of 280,687. The company has a fifty day moving average price of C$72.50 and a 200-day moving average price of C$76.49. The stock 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. CCL Industries has a 1-year low of C$66.96 and a 1-year high of C$84.70. The company has a current ratio of 1.96, a quick ratio of 1.31 and a debt-to-equity ratio of 48.08.

Insider Activity

In other CCL Industries news, Director Derek Cumming sold 3,500 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of C$78.25, for a total transaction of C$273,889.70. Also, insider CCL Industries Inc. purchased 67,024 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were purchased at an average cost of C$77.55 per share, for a total transaction of C$5,197,557.04. Insiders have bought a total of 201,072 shares of company stock valued at $15,572,229 over the last quarter. Corporate 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.