Cascades (TSE:CAS) Stock Price Expected to Rise, TD Analyst Says

Key Points

• TD raised Cascades’ price target to C$20.00 from C$19.00 and maintained a “buy” rating, implying 14.22% upside from the reported C$17.51 share price.
• Analyst sentiment is broadly positive: Cascades has a consensus “Moderate Buy” rating and an average target price of C$18.38, with targets from major firms ranging as high as C$23.00.
• The stock has risen substantially from its 12-month low of C$9.55, while insiders have sold 27,395 shares worth approximately C$480,844 over the past three months.

Cascades (TSE:CAS - Get Free Report) had its target price upped by equities research analysts at TD from C$19.00 to C$20.00 in a report issued on Wednesday, BayStreet reports. The firm currently has a "buy" rating on the stock. TD's price objective indicates a potential upside of 14.22% from the company's current price.

CAS has been the subject of a number of other reports. Canadian Imperial Bank of Commerce lifted their price objective on shares of Cascades from C$17.50 to C$23.00 in a research note on Wednesday, September 30th. Scotia increased their target price on Cascades from C$16.00 to C$20.50 and gave the stock a "sector outperform" rating in a research report on Friday, August 14th. National Bank Financial raised their price target on Cascades from C$13.00 to C$17.00 and gave the stock a "sector perform" rating in a report on Monday, August 10th. Royal Bank Of Canada lifted their price target on Cascades from C$15.00 to C$18.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Finally, Desjardins lifted their price target on Cascades from C$13.00 to C$19.00 and gave the company a "hold" rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cascades has a consensus rating of "Moderate Buy" and an average target price of C$18.38.

Cascades Stock Performance

Cascades stock traded down C$0.84 during midday trading on Wednesday, reaching C$17.51. The stock had a trading volume of 218,286 shares, compared to its average volume of 325,621. The firm has a market capitalization of C$1.78 billion, a PE ratio of 14.12, a P/E/G ratio of 0.56 and a beta of 1.03. Cascades has a 12 month low of C$9.55 and a 12 month high of C$18.86. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 111.08. The firm's 50-day moving average price is C$17.19 and its 200 day moving average price is C$13.42.

Cascades (TSE:CAS - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported C$0.24 earnings per share for the quarter. The firm had revenue of C$1.22 billion during the quarter. Cascades had a net margin of 2.64% and a return on equity of 7.24%. As a group, research analysts predict that Cascades will post 1.30 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jérôme Nadeau sold 5,234 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of C$17.30, for a total value of C$90,548.20. Following the sale, the insider directly owned 21,997 shares of the company's stock, valued at C$380,548.10. This trade represents a 19.22% decrease in their ownership of the stock. Also, insider Emmanuelle Migneault sold 3,298 shares of Cascades stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of C$18.23, for a total transaction of C$60,122.54. Following the sale, the insider owned 10,203 shares of the company's stock, valued at approximately C$186,000.69. The trade was a 24.43% decrease in their ownership of the stock. Over the last three months, insiders have sold 27,395 shares of company stock worth $480,844. Insiders own 23.78% of the company's stock.

About Cascades

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.

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