CIBC Issues Positive Forecast for Cascades (TSE:CAS) Stock Price

Cascades (TSE:CAS) had its price objective upped by CIBC from C$12.00 to C$13.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 5.18% from the company’s current price.

Several other analysts have also recently weighed in on the stock. TD Securities lifted their price target on shares of Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a report on Friday, November 8th. Royal Bank of Canada boosted their price target on shares of Cascades from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a research report on Friday, December 20th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$12.50.

Cascades Trading Up 3.0 %

TSE CAS traded up C$0.36 on Wednesday, hitting C$12.36. The company’s stock had a trading volume of 213,652 shares, compared to its average volume of 153,232. The company has a current ratio of 1.23, a quick ratio of 0.86 and a debt-to-equity ratio of 119.55. Cascades has a 52-week low of C$8.83 and a 52-week high of C$15.00. The firm has a market cap of C$1.25 billion, a P/E ratio of -29.43, a PEG ratio of 0.56 and a beta of 0.15. The company’s 50-day simple moving average is C$11.74 and its 200 day simple moving average is C$10.40.

Insider Activity at Cascades

In other Cascades news, Senior Officer Luc Langevin sold 3,000 shares of Cascades stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of C$11.30, for a total transaction of C$33,900.00. 23.78% of the stock is currently owned by corporate insiders.

About Cascades

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.