Cascades (TSE:CAS) Price Target Raised to C$17.00 at National Bank Financial

Key Points

• National Bank Financial raised Cascades’ price target to C$17.00 from C$13.00 while maintaining a “sector perform” rating, implying roughly 0.53% downside from the reported C$17.09 share price.
• Analyst sentiment is broadly positive: Cascades has an average “Moderate Buy” rating and a consensus price target of C$15.93, with recent targets ranging from C$14.50 to C$19.00.
• Cascades reported quarterly EPS of C$0.24 on revenue of C$1.22 billion, while the stock traded near its 52-week high and insiders own approximately 23.78% of the company.

Cascades (TSE:CAS - Get Free Report) had its price target boosted by National Bank Financial from C$13.00 to C$17.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. National Bank Financial's price target points to a potential downside of 0.53% from the company's current price.

Other equities research analysts have also issued research reports about the stock. Scotiabank dropped their price objective on shares of Cascades from C$16.75 to C$14.50 and set an "outperform" rating on the stock in a research note on Monday, April 13th. Canadian Imperial Bank of Commerce raised Cascades from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Royal Bank Of Canada boosted their price objective on Cascades from C$15.00 to C$18.00 and gave the company an "outperform" rating in a research report on Monday. TD increased their target price 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, Desjardins raised their target price on Cascades from C$13.00 to C$19.00 and gave the company a "hold" rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Cascades currently has an average rating of "Moderate Buy" and an average price target of C$15.93.

Cascades Stock Performance

TSE:CAS traded up C$0.07 during trading hours on Monday, reaching C$17.09. 1,754,552 shares of the stock were exchanged, compared to its average volume of 270,250. The stock has a market capitalization of C$1.73 billion, a P/E ratio of 17.09, a P/E/G ratio of 0.56 and a beta of 1.04. The firm has a 50 day simple moving average of C$12.10 and a 200-day simple moving average of C$11.88. The company has a quick ratio of 0.86, a current ratio of 1.53 and a debt-to-equity ratio of 113.03. Cascades has a 52 week low of C$9.35 and a 52 week high of C$17.53.

Cascades (TSE:CAS - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$0.24 earnings per share for the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%.The business had revenue of C$1.22 billion during the quarter. As a group, sell-side analysts forecast that Cascades will post 1.2959309 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cascades news, insider Laurent Lemaire purchased 23,302 shares of Cascades stock in a transaction on Wednesday, May 13th. The stock was bought at an average price of C$10.52 per share, for a total transaction of C$245,137.04. Following the transaction, the insider owned 7,837,637 shares of the company's stock, valued at C$82,451,941.24. The trade was a 0.30% increase in their position. 23.78% of the stock is owned by insiders.

Cascades Company Profile

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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