Desjardins Issues Positive Forecast for Cascades (TSE:CAS) Stock Price

Cascades (TSE:CAS) had its price target raised by equities research analysts at Desjardins from C$13.00 to C$19.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Desjardins’ price target suggests a potential upside of 11.18% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. National Bank Financial decreased their target price on Cascades from C$14.00 to C$13.00 and set a “sector perform” rating on the stock in a research report on Friday, May 8th. Scotiabank cut their price target on Cascades from C$16.75 to C$14.50 and set an “outperform” rating for the company in a report on Monday, April 13th. TD lifted their price objective on Cascades from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada upped their price objective on Cascades from C$15.00 to C$18.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Canadian Imperial Bank of Commerce upgraded Cascades from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cascades has a consensus rating of “Moderate Buy” and a consensus target price of C$15.93.

Cascades Price Performance

TSE:CAS traded up C$0.07 on Monday, reaching C$17.09. 1,754,552 shares of the company’s stock traded hands, compared to its average volume of 270,250. The stock has a 50-day simple moving average of C$12.10 and a 200-day simple moving average of C$11.88. Cascades has a 12 month low of C$9.35 and a 12 month high of C$17.53. The firm has a market cap of C$1.73 billion, a PE ratio of 17.09, a P/E/G ratio of 0.56 and a beta of 1.04. The company has a quick ratio of 0.86, a current ratio of 1.53 and a debt-to-equity ratio of 113.03.

Cascades (TSE:CAS) last released its earnings results on Thursday, August 6th. The company reported C$0.24 earnings per share (EPS) for the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%.The firm had revenue of C$1.22 billion during the quarter. Equities research analysts forecast that Cascades will post 1.2959309 earnings per share for the current year.

Insider Activity

In other news, insider Laurent Lemaire purchased 23,302 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of C$10.52 per share, with a total value of C$245,137.04. Following the transaction, the insider owned 7,837,637 shares of the company’s stock, valued at C$82,451,941.24. This represents a 0.30% increase in their ownership of the stock. Insiders own 23.78% of the company’s stock.

About Cascades

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.