Cascades (TSE:CAS) Given New C$23.00 Price Target at Canadian Imperial Bank of Commerce

Cascades (TSE:CAS) had its price target raised by analysts at Canadian Imperial Bank of Commerce from C$17.50 to C$23.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. Canadian Imperial Bank of Commerce’s price objective would suggest a potential upside of 25.27% from the company’s previous close.

A number of other analysts have also recently commented on CAS. National Bank Financial boosted their target price on shares of Cascades from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. TD upped their price objective on shares of Cascades from C$13.00 to C$15.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Scotia upped their price target on Cascades from C$16.00 to C$20.50 and gave the stock a “sector outperform” rating in a research note on Friday, August 14th. Desjardins raised their price objective on Cascades from C$13.00 to C$19.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Finally, Royal Bank Of Canada boosted their target price on Cascades from C$15.00 to C$18.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$17.75.

Cascades Trading Down 1.1%

Cascades stock traded down C$0.21 during mid-day trading on Wednesday, hitting C$18.36. The company’s stock had a trading volume of 140,965 shares, compared to its average volume of 322,551. The business has a 50 day moving average price of C$16.28 and a 200-day moving average price of C$12.95. The company has a debt-to-equity ratio of 111.08, a current ratio of 1.48 and a quick ratio of 0.86. Cascades has a 12 month low of C$9.35 and a 12 month high of C$18.86. The stock has a market cap of C$1.86 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 0.56 and a beta of 1.22.

Cascades (TSE:CAS) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$0.24 earnings per share (EPS) for the quarter. Cascades had a net margin of 2.64% and a return on equity of 7.24%. The business had revenue of C$1.22 billion for the quarter. As a group, analysts forecast that Cascades will post 1.2959309 EPS for the current year.

Insider Buying and Selling

In related news, insider Jérôme Nadeau sold 5,234 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of C$17.30, for a total value of C$90,548.20. Following the sale, the insider owned 21,997 shares in the company, valued at approximately C$380,548.10. The trade was a 19.22% decrease in their ownership of the stock. Also, insider Emmanuelle Migneault sold 3,298 shares of Cascades stock in a transaction dated Monday, September 28th. The stock was sold at an average price of C$18.23, for a total value of C$60,122.54. Following the completion of the transaction, the insider owned 10,203 shares of the company’s stock, valued at approximately C$186,000.69. This represents a 24.43% decrease in their position. In the last three months, insiders have sold 27,395 shares of company stock valued at $480,844. Corporate 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.