CCL Industries (TSE:CCL.B) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

CCL Industries Inc. (TSE:CCL.B)’s share price 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 traded.

Analyst Ratings Changes

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

CCL Industries Stock Performance

The company has a market capitalization of C$12.43 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 0.26 and a beta of 0.57. 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 50-day simple moving average of C$79.17 and a two-hundred day simple moving average of C$76.29.

Insider Activity at CCL Industries

In other news, insider CCL Industries Inc. purchased 67,024 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was bought at an average price of C$77.55 per share, for a total transaction of C$5,197,557.04. Also, Director Derek Cumming sold 10,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of C$81.41, for a total transaction of C$814,100.00. Over the last quarter, insiders 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.