Cascades (TSE:CAS) Rating Increased to Outperform at Royal Bank Of Canada

Key Points

• Cascades has been upgraded from a "sector perform" to an "outperform" rating by the Royal Bank of Canada, with a new price target of C$13.00, indicating a potential upside of 14.44% from the last close.
• Other analysts have mixed views, with TD Securities issuing a "strong-buy" rating, while Desjardins has lowered their price target to C$10.50 with a "hold" rating.
• Cascades' current stock price reached C$11.36 after an increase of C$1.05 during trading, with a market capitalization of C$1.15 billion.

Cascades (TSE:CAS - Get Free Report) was upgraded by equities researchers at Royal Bank Of Canada from a "sector perform" rating to an "outperform" rating in a report issued on Monday,BayStreet.CA reports. The firm presently has a C$13.00 price objective on the stock, up from their prior price objective of C$11.00. Royal Bank Of Canada's target price suggests a potential upside of 14.44% from the company's previous close.

CAS has been the topic of a number of other research reports. TD Securities upgraded Cascades from a "hold" rating to a "strong-buy" rating in a research report on Friday. Desjardins lowered their price target on Cascades from C$11.00 to C$10.50 and set a "hold" rating on the stock in a research report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$11.67.

Cascades Stock Performance

Shares of CAS traded up C$1.05 during mid-day trading on Monday, reaching C$11.36. The company had a trading volume of 546,985 shares, compared to its average volume of 225,868. Cascades has a 52-week low of C$8.30 and a 52-week high of C$13.42. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 121.37. The stock has a market capitalization of C$1.15 billion, a P/E ratio of -142.00, a PEG ratio of 0.56 and a beta of 0.95. The stock has a 50 day moving average of C$9.79 and a two-hundred day moving average of C$9.31.

Cascades Company Profile

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.

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