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

Key Points

• Royal Bank of Canada raised Cascades’ price target to C$18 from C$15 and maintained an “outperform” rating, implying 5.32% upside from the prior close.
• Analyst sentiment is generally positive, with Cascades carrying a “Moderate Buy” consensus rating and an average price target of C$15.93.
• Cascades shares rose 0.4% to C$17.09, near their 12-month high of C$17.53; the company recently reported quarterly EPS of C$0.24 on revenue of C$1.22 billion.

Cascades (TSE:CAS - Get Free Report) had its price target hoisted by research analysts at Royal Bank Of Canada from C$15.00 to C$18.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 5.32% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. National Bank Financial cut their target price on Cascades from C$14.00 to C$13.00 and set a "sector perform" rating on the stock in a research note on Friday, May 8th. TD raised their price target on shares of Cascades from C$13.00 to C$15.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Scotiabank lowered 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 report on Monday, April 13th. Desjardins cut their price objective on shares of Cascades from C$15.00 to C$13.00 and set a "hold" rating on the stock in a research report on Monday, April 13th. Finally, Canadian Imperial Bank of Commerce upgraded shares of Cascades from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of C$15.93.

Cascades Stock Up 0.4%

CAS stock 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 firm's 50-day moving average is C$12.10 and its 200-day moving average is C$11.88. The company has a market cap of C$1.73 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 0.56 and a beta of 1.04. The company has a debt-to-equity ratio of 113.03, a current ratio of 1.53 and a quick ratio of 0.86. Cascades has a 12 month low of C$9.35 and a 12 month 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 EPS for the quarter. The company had revenue of C$1.22 billion for the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%. On average, equities research analysts expect that Cascades will post 1.2959309 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Laurent Lemaire bought 23,302 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of C$10.52 per share, for a total transaction of C$245,137.04. Following the completion of the acquisition, the insider owned 7,837,637 shares in the company, valued at approximately C$82,451,941.24. This represents a 0.30% increase in their ownership of the stock. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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