TD Forecasts Strong Price Appreciation for Cascades (TSE:CAS) Stock

Key Points

• TD raised its price target on Cascades from C$13.00 to C$15.00 and kept a buy rating, implying about 24% upside from the current share price.
• Shares of Cascades were up 2.5% to C$12.08, while analyst sentiment remains generally positive with a Moderate Buy consensus and an average target price of C$13.93.
• The company recently reported C$0.07 EPS on C$1.12 billion in revenue, and insider Laurent Lemaire also bought shares, signaling continued confidence in the stock.

Cascades (TSE:CAS - Get Free Report) had its price target hoisted by investment analysts at TD from C$13.00 to C$15.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD's price objective indicates a potential upside of 24.17% from the stock's current price.

CAS has been the topic of a number of other reports. National Bank Financial reduced their target price on shares of Cascades from C$14.00 to C$13.00 and set a "sector perform" rating on the stock in a research report on Friday, May 8th. Scotiabank lowered their price target on shares of Cascades from C$16.75 to C$14.50 and set an "outperform" rating for the company in a report on Monday, April 13th. Desjardins dropped their price target on shares of Cascades from C$15.00 to C$13.00 and set a "hold" rating on the stock in a research note on Monday, April 13th. Finally, Royal Bank Of Canada cut their price objective on shares of Cascades from C$15.00 to C$14.00 and set an "outperform" rating on the stock in a report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$13.93.

Cascades Trading Up 2.5%

Shares of CAS traded up C$0.29 during mid-day trading on Tuesday, hitting C$12.08. The company had a trading volume of 142,231 shares, compared to its average volume of 220,162. Cascades has a 1-year low of C$8.90 and a 1-year high of C$14.20. The business's 50-day simple moving average is C$11.04 and its 200-day simple moving average is C$11.80. The stock has a market cap of C$1.22 billion, a PE ratio of 12.08, a P/E/G ratio of 0.56 and a beta of 1.03. 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 (TSE:CAS - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported C$0.07 earnings per share for the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%.The firm had revenue of C$1.12 billion for the quarter. Sell-side analysts forecast that Cascades will post 1.2959309 earnings per share for the current year.

Insider Transactions at Cascades

In related news, insider Laurent Lemaire bought 23,302 shares of the stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of C$10.52 per share, with a total value of C$245,137.04. Following the purchase, 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. 23.78% of the stock is owned by company insiders.

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.