CIBC Cuts Cascades (TSE:CAS) Price Target to C$12.00

Cascades (TSE:CAS) had its price objective reduced by equities researchers at CIBC from C$14.00 to C$12.00 in a research report issued on Thursday, BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 28.07% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. TD Securities lowered their price objective on Cascades from C$16.00 to C$14.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. National Bankshares lowered their price target on Cascades from C$13.50 to C$11.00 in a report on Thursday. Desjardins cut their price objective on shares of Cascades from C$14.50 to C$13.00 and set a “hold” rating on the stock in a report on Thursday, March 28th. Finally, Royal Bank of Canada cut shares of Cascades from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$15.00 to C$14.00 in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$12.80.

Cascades Price Performance

Cascades stock traded down C$0.13 during midday trading on Thursday, reaching C$9.37. 91,168 shares of the company were exchanged, compared to its average volume of 278,984. The company has a market capitalization of C$943.65 million, a price-to-earnings ratio of -12.36, a P/E/G ratio of 0.56 and a beta of 0.06. Cascades has a 1 year low of C$9.31 and a 1 year high of C$15.00. The company has a debt-to-equity ratio of 108.76, a quick ratio of 0.86 and a current ratio of 1.33. The firm’s 50-day simple moving average is C$11.30 and its 200-day simple moving average is C$12.06.

Cascades (TSE:CAS) last announced its earnings results on Thursday, February 22nd. The company reported C$0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.25). The firm had revenue of C$1.14 billion for the quarter, compared to analyst estimates of C$1.22 billion. Cascades had a negative return on equity of 2.86% and a negative net margin of 1.64%. On average, analysts anticipate that Cascades will post 0.8298611 EPS for the current year.

Cascades Company Profile

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.