Cascades (OTCMKTS:CADNF) Shares Down 0.6% – Here’s Why

Cascades Inc. (OTCMKTS:CADNF)’s share price fell 0.6% during trading on Wednesday . The stock traded as low as $9.91 and last traded at $9.9620. 80,598 shares traded hands during mid-day trading, an increase of 205% from the average session volume of 26,400 shares. The stock had previously closed at $10.0235.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CADNF. Scotiabank reaffirmed an “outperform” rating on shares of Cascades in a research note on Friday, July 24th. Canadian Imperial Bank of Commerce raised shares of Cascades from a “neutral” rating to an “outperform” rating in a report on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Cascades Price Performance

The firm has a fifty day simple moving average of $8.21 and a 200 day simple moving average of $8.53.

Cascades Company Profile

Cascades Inc is a Canadian leader in the production, conversion and marketing of packaging and tissue products composed mainly of recycled fibres. Headquartered in Kingsey Falls, Quebec, the company operates a network of manufacturing facilities across North America and Europe. Since its founding in 1964, Cascades has focused on sustainable solutions that meet the needs of consumer goods companies, retailers and foodservice businesses.

The company’s operations are organized into three primary segments: packaging specialties, tissue papers and recovery and recycling.