Royal Bank Of Canada Issues Positive Forecast for Cascades (TSE:CAS) Stock Price

Key Points

• The Royal Bank of Canada has increased its price target for Cascades (TSE:CAS) from C$10.00 to C$11.00, suggesting a potential upside of 13.75% from the current price.
• In contrast, TD Securities downgraded Cascades from a "buy" to a "hold" rating and lowered its target price from C$12.00 to C$9.50.
• Company insiders have sold over 119,911 shares worth approximately $1,068,804 in recent transactions, indicating notable insider activity.

Cascades (TSE:CAS - Get Free Report) had its price objective lifted by equities research analysts at Royal Bank Of Canada from C$10.00 to C$11.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential upside of 12.59% from the stock's current price.

A number of other research analysts have also recently issued reports on the company. National Bankshares reduced their price objective on Cascades from C$14.00 to C$11.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. CIBC cut their target price on Cascades from C$13.00 to C$10.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Finally, TD Securities cut Cascades from a "buy" rating to a "hold" rating and dropped their price objective for the stock from C$12.00 to C$9.50 in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cascades has a consensus rating of "Hold" and a consensus target price of C$11.33.

Cascades Trading Up 0.3%

Shares of TSE:CAS traded up C$0.03 on Friday, reaching C$9.77. 12,043 shares of the company traded hands, compared to its average volume of 246,837. The business's 50-day simple moving average is C$9.18 and its 200 day simple moving average is C$9.84. Cascades has a 52 week low of C$8.30 and a 52 week high of C$13.42. The stock has a market capitalization of C$988.25 million, a P/E ratio of -13.18, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 121.37.

Insider Buying and Selling at Cascades

In other Cascades news, Director Jean-David Tardif sold 5,753 shares of Cascades stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of C$9.16, for a total transaction of C$52,697.48. Also, Director Alex Nick Blanco acquired 7,331 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were purchased at an average cost of C$9.32 per share, for a total transaction of C$68,328.74. In the last 90 days, insiders sold 119,911 shares of company stock worth $1,068,804. Insiders own 23.78% of the company's stock.

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.