Cascades (TSE:CAS) Price Target Lowered to C$13.00 at National Bank Financial

Key Points

• National Bank Financial cut its price target on Cascades to C$13.00 (from C$14.00) and maintained a "sector perform" rating, which the firm says implies roughly a 20.37% upside from the stock's current level.
• Multiple brokers have trimmed targets recently (RBC, Desjardins, TD, Scotiabank), leaving an average analyst price target of C$13.64 and an aggregate rating of "Moderate Buy" (four Buys, two Holds).
• Shares are trading at about C$10.80, below analyst targets and the 52‑week high of C$14.20; the company has a market cap of ~C$1.09 billion, a P/E of 15.65, and reported C$0.07 EPS for the last quarter.

Cascades (TSE:CAS - Get Free Report) had its price target dropped by equities research analysts at National Bank Financial from C$14.00 to C$13.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. National Bank Financial's price target points to a potential upside of 20.37% from the stock's current price.

CAS has been the topic of several other research reports. Royal Bank Of Canada cut their price objective on Cascades from C$16.00 to C$15.00 and set an "outperform" rating on the stock in a report on Thursday, April 16th. Desjardins cut their price objective on Cascades from C$15.00 to C$13.00 and set a "hold" rating on the stock in a report on Monday, April 13th. TD Securities cut their target price on shares of Cascades from C$16.00 to C$15.00 and set a "buy" rating on the stock in a research report on Friday, February 27th. TD cut their target price on shares of Cascades from C$14.00 to C$13.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Scotiabank cut their target price on shares of Cascades from C$16.75 to C$14.50 and set an "outperform" rating on the stock in a research report on Monday, April 13th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of C$13.64.

Cascades Price Performance

Shares of CAS stock traded up C$0.11 during trading hours on Friday, reaching C$10.80. The company's stock had a trading volume of 291,865 shares, compared to its average volume of 211,962. The firm's 50 day simple moving average is C$11.29 and its 200-day simple moving average is C$12.13. The company has a market capitalization of C$1.09 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 0.56 and a beta of 1.07. Cascades has a fifty-two week low of C$8.30 and a fifty-two week high of C$14.20. The company has a quick ratio of 0.86, a current ratio of 1.43 and a debt-to-equity ratio of 112.96.

Cascades (TSE:CAS - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported C$0.07 earnings per share for the quarter. Cascades had a net margin of 1.47% and a return on equity of 4.11%. The company had revenue of C$1.13 billion for the quarter. Sell-side analysts forecast that Cascades will post 1.2959309 earnings per share for the current year.

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. The business activity of the company functions in Canada, the United States, Italy, and other countries. Its customer base includes food processing companies, the maintenance industry, accommodations, and housing industry, micro-businesses, and boutiques.

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