Analysts Set Cascades Inc (CAS) Target Price at $17.21
Shares of Cascades Inc (TSE:CAS) have received an average recommendation of “Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$17.21.
CAS has been the topic of several research analyst reports. CIBC downgraded shares of Cascades from an “outperform” rating to a “neutral” rating in a report on Monday, September 25th. National Bank Financial boosted their target price on shares of Cascades from C$19.00 to C$21.00 and gave the stock an “outperform” rating in a report on Friday, October 13th. Scotiabank boosted their target price on shares of Cascades from C$16.75 to C$18.00 and gave the stock a “sector perform” rating in a report on Friday, November 10th. TD Securities lowered their target price on shares of Cascades from C$18.00 to C$16.50 and set a “hold” rating on the stock in a report on Friday, November 10th. Finally, Desjardins downgraded shares of Cascades from a “buy” rating to a “hold” rating and decreased their price target for the company from C$18.00 to C$15.00 in a research note on Monday, November 13th.
Cascades (TSE:CAS) traded up C$0.04 during mid-day trading on Tuesday, hitting C$14.56. 190,957 shares of the stock traded hands, compared to its average volume of 311,339. Cascades has a 1 year low of C$11.44 and a 1 year high of C$18.20. The stock has a market capitalization of $1,380.00 and a P/E ratio of 3.13.
In related news, insider Bernard Lemaire sold 118,500 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of C$12.69, for a total transaction of C$1,503,765.00.
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Cascades Company Profile
Cascades Inc (Cascades) is a Canada-based company that produces, converts and markets packaging and tissue products consisting of recycled fibers. The Company operates through four segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes the Company’s Packaging Products) and Tissue Papers.
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