CCL Industries (CCDBF) Received its Third Buy in a Row

After RBC Capital and TD Securities gave CCL Industries (Other OTC: CCDBF) a Buy rating last month, the company received another Buy, this time from PI Financial. Analyst Pi Financial maintained a Buy rating on CCL Industries yesterday and set a price target of C$80.00. The company’s shares closed last Wednesday at $54.00.

CCL Industries has an analyst consensus of Strong Buy, with a price target consensus of $61.08, which is a 13.1% upside from current levels. In a report issued on February 26, TD Securities also maintained a Buy rating on the stock with a C$75.00 price target.

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Based on CCL Industries’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.35 billion and net profit of $146 million. In comparison, last year the company earned revenue of $1.28 billion and had a net profit of $105 million.

Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CCDBF in relation to earlier this year.

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CCL Industries, Inc. engages in the conversion of pressure sensitive and extruded film materials for decorative, instructional, security, and functional applications. It operates through the following segments: CCL; Avery; Checkpoint; and Innovia. The CCL segment focuses on the production of pressure sensitive and extruded film materials. The Avery segment manufactures and sells consumer products, including labels, binders, dividers, sheet protectors, and writing instruments. The Checkpoint segment involves in technology-driven, loss-prevention, inventory management and labelling solutions. The Innovia segment covers specialty high-performance, multi-layer, surface-engineered specialty films for label, packaging, and security applications. The company was founded by Gordon S. Lang in 1951 and is headquartered in Toronto, Canada.