Royal Bank Of Canada Issues Positive Forecast for Cascades (TSE:CAS) Stock Price

Cascades (TSE:CAS) had its price target hoisted by Royal Bank Of Canada from C$13.00 to C$14.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 17.85% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the company. Desjardins raised their target price on Cascades from C$10.50 to C$13.50 and gave the stock a “hold” rating in a research note on Friday. TD Securities upgraded Cascades from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cascades has an average rating of “Moderate Buy” and an average price target of C$13.00.

Cascades Trading Up 1.8%

Cascades stock traded up C$0.21 during trading on Friday, reaching C$11.88. 262,524 shares of the company were exchanged, compared to its average volume of 225,997. The stock’s 50 day simple moving average is C$10.17 and its two-hundred day simple moving average is C$9.51. The company has a market capitalization of C$1.20 billion, a P/E ratio of -148.50, a PEG ratio of 0.56 and a beta of 0.87. The company has a debt-to-equity ratio of 121.37, a current ratio of 1.22 and a quick ratio of 0.86. Cascades has a 52-week low of C$8.30 and a 52-week high of C$13.42.

About Cascades

Cascades Inc, along with its subsidiaries, produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company is organized into four main business segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes packaging products), and Tissue Papers.