Scotiabank Increases Cascades (TSE:CAS) Price Target to C$16.00

Cascades (TSE:CAS) had its price target upped by analysts at Scotiabank from C$13.50 to C$16.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 23.46% from the company’s previous close.

Several other research analysts also recently weighed in on the company. Desjardins boosted their price target on Cascades from C$10.50 to C$13.50 and gave the company a “hold” rating in a report on Friday, November 7th. CIBC upped their price objective on shares of Cascades from C$12.00 to C$13.00 in a research note on Monday, November 10th. TD Securities upped their price target on shares of Cascades from C$12.00 to C$14.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Royal Bank Of Canada increased their price target on shares of Cascades from C$14.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cascades has an average rating of “Moderate Buy” and an average target price of C$13.92.

Cascades Price Performance

CAS stock traded down C$0.45 on Tuesday, reaching C$12.96. The company had a trading volume of 109,128 shares, compared to its average volume of 172,811. The company has a debt-to-equity ratio of 121.37, a quick ratio of 0.86 and a current ratio of 1.22. The company’s fifty day moving average is C$12.62 and its 200 day moving average is C$10.98. The company has a market cap of C$1.31 billion, a P/E ratio of 64.80, a PEG ratio of 0.56 and a beta of 1.15. Cascades has a 1 year low of C$8.30 and a 1 year high of C$13.94.

Cascades (TSE:CAS) last posted its quarterly earnings data on Thursday, November 6th. The company reported C$0.38 EPS for the quarter. The firm had revenue of C$1.24 billion during the quarter. Cascades had a negative return on equity of 4.35% and a negative net margin of 1.62%. On average, research analysts forecast that Cascades will post 1.2959309 earnings per share for the current year.

Insider Transactions at Cascades

In other news, insider J�R�Me Porlier sold 4,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of C$12.49, for a total transaction of C$49,960.00. Following the transaction, the insider directly owned 24,467 shares of the company’s stock, valued at approximately C$305,592.83. The trade was a 14.05% decrease in their ownership of the stock. 23.78% of the stock is owned by company insiders.

About Cascades

Cascades Inc, along with its subsidiaries, produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company is organized into four main business segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes packaging products), and Tissue Papers. The business activity of the company functions in Canada, the United States, Italy, and other countries. Its customer base includes food processing companies, the maintenance industry, accommodations, and housing industry, micro-businesses, and boutiques.