CIBC Issues Pessimistic Forecast for Cascades (TSE:CAS) Stock Price

Cascades (TSE:CAS) had its target price cut by CIBC from C$13.00 to C$10.00 in a report issued on Tuesday,BayStreet.CA reports. They currently have a neutral rating on the stock.

CAS has been the subject of several other reports. Royal Bank of Canada reduced their price objective on Cascades from C$13.00 to C$11.00 and set a “sector perform” rating for the company in a research report on Tuesday. TD Securities decreased their price target on shares of Cascades from C$16.00 to C$12.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Finally, Scotiabank upgraded shares of Cascades from a “hold” rating to a “strong-buy” rating and raised their target price for the stock from C$12.00 to C$15.50 in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cascades has a consensus rating of “Moderate Buy” and an average target price of C$11.90.

Cascades Stock Down 1.0 %

CAS stock opened at C$8.90 on Tuesday. The firm has a 50 day simple moving average of C$10.11 and a 200-day simple moving average of C$11.19. Cascades has a twelve month low of C$8.83 and a twelve month high of C$13.42. The company has a market capitalization of C$900.24 million, a P/E ratio of -12.00, a PEG ratio of 0.56 and a beta of 0.15. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 121.37.

Cascades Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date of this dividend was Thursday, March 6th. Cascades’s dividend payout ratio (DPR) is presently -64.73%.

Insider Buying and Selling

In related news, Senior Officer Luc Langevin sold 9,000 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of C$9.82, for a total transaction of C$88,380.00. Corporate insiders own 23.78% of the company’s stock.

Cascades Company Profile

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.