CCL Industries (TSE:CCL.B) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Shares of CCL Industries Inc. (TSE:CCL.B) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$76.29 and traded as low as C$72.63. CCL Industries shares last traded at C$74.40, with a volume of 530,114 shares.

Analysts Set New Price Targets

Several research firms recently commented on CCL.B. TD Securities dropped their price objective on CCL Industries from C$98.00 to C$94.00 in a research note on Friday, November 15th. BMO Capital Markets upped their price target on CCL Industries from C$90.00 to C$93.00 in a research report on Friday, November 15th. Royal Bank of Canada decreased their price objective on CCL Industries from C$92.00 to C$90.00 in a report on Friday, November 15th. Stifel Nicolaus upped their price objective on shares of CCL Industries from C$85.00 to C$90.00 in a report on Monday, November 18th. Finally, CIBC increased their target price on shares of CCL Industries from C$93.00 to C$96.00 in a research report on Monday, November 18th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CCL Industries currently has an average rating of “Buy” and a consensus target price of C$90.13.

CCL Industries Stock Down 1.1 %

The company’s 50 day simple moving average is C$79.05 and its 200-day simple moving average is C$76.31. The company has a debt-to-equity ratio of 48.08, a quick ratio of 1.31 and a current ratio of 1.96. The firm has a market capitalization of C$12.29 billion, a PE ratio of 19.56, a PEG ratio of 0.26 and a beta of 0.57.

Insider Buying and Selling

In related news, Director Derek Cumming sold 3,500 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of C$78.25, for a total value of C$273,889.70. Also, Senior Officer James Andrew Sellors sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of C$77.50, for a total value of C$775,000.00. Over the last quarter, insiders have sold 23,700 shares of company stock worth $1,879,396. 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.