Cascades (TSE:CAS) Stock Price Target Raised at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised Cascades’ price target to C$23.00 from C$17.50, implying 25.27% upside from the reported trading price.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average target price of C$17.75.
• Cascades reported quarterly EPS of C$0.24 on C$1.22 billion in revenue, while shares traded at C$18.36 near their 52-week high; insiders have sold 27,395 shares over the past 90 days.

Cascades (TSE:CAS - Get Free Report) had its price objective boosted by investment analysts at Canadian Imperial Bank of Commerce from C$17.50 to C$23.00 in a research report issued on Wednesday, BayStreet reports. Canadian Imperial Bank of Commerce's price objective suggests a potential upside of 25.27% from the company's current price.

Several other equities analysts also recently issued reports on the stock. Desjardins raised their price target on shares of Cascades from C$13.00 to C$19.00 and gave the company a "hold" rating in a research note on Monday, August 10th. National Bank Financial raised their target price on Cascades from C$13.00 to C$17.00 and gave the stock a "sector perform" rating in a research report on Monday, August 10th. Scotia upped their price target on Cascades from C$16.00 to C$20.50 and gave the company a "sector outperform" rating in a research report on Friday, August 14th. TD raised their price objective on Cascades from C$13.00 to C$15.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada upped their target price on Cascades from C$15.00 to C$18.00 and gave the company an "outperform" rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$17.75.

Cascades Price Performance

Shares of CAS stock traded down C$0.21 during trading on Wednesday, hitting C$18.36. The company had a trading volume of 140,965 shares, compared to its average volume of 322,551. The company has a debt-to-equity ratio of 111.08, a quick ratio of 0.86 and a current ratio of 1.48. The firm has a market capitalization of C$1.86 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 0.56 and a beta of 1.22. The stock's 50-day moving average price is C$16.28 and its 200 day moving average price is C$12.95. Cascades has a one year low of C$9.35 and a one year high of C$18.86.

Cascades (TSE:CAS - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$0.24 earnings per share (EPS) for the quarter. The business had revenue of C$1.22 billion for the quarter. Cascades had a net margin of 2.64% and a return on equity of 7.24%. Equities analysts expect that Cascades will post 1.2959309 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Allan Hogg sold 17,684 shares of Cascades stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of C$17.50, for a total value of C$309,470.00. Following the sale, the insider owned 112,056 shares of the company's stock, valued at approximately C$1,960,980. The trade was a 13.63% decrease in their position. Also, insider Emmanuelle Migneault sold 3,298 shares of Cascades stock in a transaction dated Monday, September 28th. The stock was sold at an average price of C$18.23, for a total value of C$60,122.54. Following the completion of the sale, the insider directly owned 10,203 shares of the company's stock, valued at approximately C$186,000.69. This trade represents a 24.43% decrease in their position. In the last ninety days, insiders sold 27,395 shares of company stock valued at $480,844. Corporate 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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