Cascades (TSE:CAS) Price Target Lowered to C$10.50 at CIBC

Cascades (TSE:CAS) had its price objective dropped by equities researchers at CIBC from C$11.00 to C$10.50 in a note issued to investors on Monday, BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. CIBC’s price objective would suggest a potential upside of 13.39% from the company’s previous close.

Several other research firms also recently weighed in on CAS. Scotiabank reduced their target price on Cascades from C$13.50 to C$12.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 24th. TD Securities reduced their target price on Cascades from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada reduced their target price on Cascades from C$11.00 to C$10.00 in a research report on Thursday, July 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$11.08.

Cascades Price Performance

Shares of TSE:CAS traded up C$0.35 on Monday, hitting C$9.26. The company had a trading volume of 151,393 shares, compared to its average volume of 233,936. The company has a current ratio of 1.23, a quick ratio of 0.86 and a debt-to-equity ratio of 115.94. Cascades has a 52-week low of C$8.83 and a 52-week high of C$15.00. The business has a 50 day moving average of C$9.29 and a 200 day moving average of C$10.26. The company has a market cap of C$932.57 million, a PE ratio of -44.19, a PEG ratio of 0.56 and a beta of 0.07.

Insider Transactions at Cascades

In other news, Senior Officer Maryse Fernet sold 13,321 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of C$9.80, for a total value of C$130,545.80. In other Cascades news, Senior Officer Maryse Fernet sold 13,321 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of C$9.80, for a total transaction of C$130,545.80. Also, Director Hugues Simon acquired 11,000 shares of the stock in a transaction on Friday, August 9th. The shares were acquired at an average price of C$9.10 per share, with a total value of C$100,100.00. Insiders have sold a total of 221,300 shares of company stock worth $2,134,240 in the last three months. 23.84% of the stock is currently owned by company insiders.

About Cascades

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.