Cascades (TSE:CAS) Price Target Increased to C$13.50 by Analysts at TD Securities

Cascades (TSE:CAS) had its price objective lifted by equities research analysts at TD Securities from C$13.00 to C$13.50 in a research report issued on Monday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD Securities’ price target would suggest a potential upside of 3.21% from the stock’s previous close.

A number of other equities research analysts also recently commented on CAS. Raymond James lifted their target price on shares of Cascades from C$14.00 to C$15.00 in a research report on Monday, August 12th. Royal Bank of Canada lifted their target price on shares of Cascades from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. National Bank Financial lifted their target price on shares of Cascades from C$14.50 to C$15.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, CIBC lifted their price target on shares of Cascades from C$11.00 to C$13.00 in a research note on Monday, September 16th.

TSE:CAS traded up C$0.26 during trading hours on Monday, reaching C$13.08. The company had a trading volume of 129,287 shares, compared to its average volume of 196,286. The company has a current ratio of 1.43, a quick ratio of 0.81 and a debt-to-equity ratio of 115.99. Cascades has a 52 week low of C$7.55 and a 52 week high of C$13.44. The firm has a market cap of $1.21 billion and a price-to-earnings ratio of 52.41. The firm’s 50 day moving average price is C$12.01 and its 200-day moving average price is C$10.97.

Cascades (TSE:CAS) last posted its earnings results on Friday, August 9th. The company reported C$0.28 EPS for the quarter, topping analysts’ consensus estimates of C$0.24 by C$0.04. The company had revenue of C$1.28 billion during the quarter, compared to the consensus estimate of C$1.26 billion. On average, analysts forecast that Cascades will post 1.1299999 earnings per share for the current fiscal year.

In other news, Director Alain Lemaire sold 6,830 shares of Cascades stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of C$11.33, for a total transaction of C$77,383.90. Following the transaction, the director now owns 361,252 shares in the company, valued at approximately C$4,092,985.16. Also, Director Mario Plourde sold 14,900 shares of Cascades stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of C$11.77, for a total transaction of C$175,373.00. Following the transaction, the director now owns 348,309 shares in the company, valued at approximately C$4,099,596.93. Insiders have sold a total of 231,329 shares of company stock worth $2,633,499 in the last quarter.

Cascades Company Profile

Cascades Inc produces, converts, and markets packaging and tissue products in Canada, the United States, and internationally. The company operates through four segments: Containerboard, Boxboard Europe, Specialty Products, and Tissue Papers. It offers containerboards, and coated recycled and virgin boxboards, as well as converts corrugated products.

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