Royal Bank of Canada Increases CCL Industries (CCL.B) Price Target to C$66.00

CCL Industries (TSE:CCL.B) had its target price upped by equities research analysts at Royal Bank of Canada from C$65.00 to C$66.00 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 11.86% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. CIBC lowered their price objective on CCL Industries from C$63.00 to C$62.00 in a research note on Monday, January 21st. TD Securities lowered their price objective on CCL Industries from C$59.00 to C$58.00 and set a “hold” rating for the company in a research note on Monday, February 25th.

CCL Industries stock traded down C$0.99 during midday trading on Thursday, reaching C$59.00. 340,415 shares of the stock traded hands, compared to its average volume of 364,025. CCL Industries has a 12 month low of C$53.00 and a 12 month high of C$71.32. The firm has a market cap of $9.70 billion and a PE ratio of 20.20. The company has a current ratio of 1.62, a quick ratio of 1.15 and a debt-to-equity ratio of 103.90.



In other news, Senior Officer Lalitha Vaidyanathan sold 16,789 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of C$53.98, for a total value of C$906,344.09. Following the sale, the insider now directly owns 107,426 shares in the company, valued at C$5,799,328.15. Also, Director Geoffrey Martin sold 120,978 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of C$53.98, for a total value of C$6,530,924.74. Following the completion of the sale, the director now owns 636,422 shares in the company, valued at C$34,356,859.82. Insiders sold a total of 156,367 shares of company stock valued at $8,441,833 over the last ninety days.

CCL Industries Company Profile

CCL Industries Inc manufactures and sells labels, containers, consumer printable media products, technology driven label solutions, polymer bank note substrates, and specialty films. The company operates through four segments: CCL, Avery, Checkpoint, and Innovia. The CCL segment offers pressure sensitive and specialty extruded film materials for decorative, instructional, functional, and security applications in the consumer packaging, healthcare, chemicals, consumer electronic device, and automotive markets.

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