Royal Bank Of Canada Lowers Cascades (TSE:CAS) Price Target to C$14.00

Key Points

• Royal Bank of Canada cut its target for Cascades to C$14.00 from C$15.00 while maintaining an "outperform" rating, implying roughly a 29.6% upside from the prior close.
• Several other brokers have also trimmed targets, leaving a consensus rating of "Moderate Buy" and a consensus price target of C$13.64.
• Cascades traded at C$10.80 (up ~1%) with a market cap of C$1.09B and a PE of 15.65; last quarter EPS was C$0.07 on C$1.13B revenue and a net margin of 1.47%.

Cascades (TSE:CAS - Get Free Report) had its target price cut by investment analysts at Royal Bank Of Canada from C$15.00 to C$14.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential upside of 29.63% from the company's previous close.

Several other equities research analysts have also recently issued reports on the stock. Scotiabank lowered their price objective on shares of Cascades from C$16.75 to C$14.50 and set an "outperform" rating for the company in a research report on Monday, April 13th. TD lowered their target price on Cascades from C$14.00 to C$13.00 and set a "buy" rating for the company in a report on Friday. TD Securities lowered their target price on Cascades from C$16.00 to C$15.00 and set a "buy" rating for the company in a report on Friday, February 27th. National Bank Financial lowered their target price on Cascades from C$14.00 to C$13.00 and set a "sector perform" rating for the company in a report on Friday. Finally, Desjardins lowered their target price on Cascades from C$15.00 to C$13.00 and set a "hold" rating for the company in a report on Monday, April 13th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$13.64.

Cascades Trading Up 1.0%

CAS traded up C$0.11 during trading hours on Friday, reaching C$10.80. 291,865 shares of the company's stock traded hands, compared to its average volume of 211,962. The firm has a market capitalization of C$1.09 billion, a PE ratio of 15.65, a PEG ratio of 0.56 and a beta of 1.07. 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 has a 52-week low of C$8.30 and a 52-week high of C$14.20. The firm has a 50-day moving average price of C$11.29 and a 200 day moving average price of C$12.13.

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

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. 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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