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

CCL Industries (TSE:CCL.B) had its price target reduced by CIBC from C$97.00 to C$96.00 in a research note published on Tuesday,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

CCL.B has been the subject of several other research reports. BMO Capital Markets raised their target price on CCL Industries from C$90.00 to C$93.00 in a research note on Friday, November 15th. Stifel Nicolaus raised their target price on CCL Industries from C$85.00 to C$90.00 in a research note on Monday, November 18th. Scotiabank raised their target price on CCL Industries from C$85.00 to C$86.00 in a research note on Friday, February 21st. Royal Bank of Canada cut their target price on CCL Industries from C$92.00 to C$90.00 in a research note on Friday, November 15th. Finally, TD Securities dropped their price target on CCL Industries from C$98.00 to C$94.00 in a research report on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$90.38.

CCL Industries Trading Up 0.1 %

Shares of CCL.B opened at C$73.84 on Tuesday. The business has a 50-day moving average of C$72.52 and a 200 day moving average of C$76.49. CCL Industries has a fifty-two week low of C$66.96 and a fifty-two week high of C$84.70. The firm has a market cap of C$12.34 billion, a P/E ratio of 19.64, a price-to-earnings-growth 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.

Insider Activity

In other news, insider CCL Industries Inc. bought 67,024 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought at an average price of C$78.37 per share, for a total transaction of C$5,252,845.14. Also, 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 value of C$273,889.70. 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.