CIBC Cuts Cascades (TSE:CAS) Price Target to C$10.00

Cascades (TSE:CAS - Get Free Report) had its price target cut by equities researchers at CIBC from C$13.00 to C$10.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has a "neutral" rating on the stock. CIBC's price target would suggest a potential upside of 9.53% from the stock's current price.

A number of other analysts have also recently issued reports on the stock. Scotiabank upgraded shares of Cascades from a "hold" rating to a "strong-buy" rating and raised their target price for the stock from C$12.00 to C$15.50 in a research note on Monday, January 27th. Royal Bank of Canada cut their target price on Cascades from C$13.00 to C$11.00 and set a "sector perform" rating for the company in a research report on Tuesday. Finally, TD Securities reduced their target price on Cascades from C$16.00 to C$12.00 and set a "buy" rating on the stock in a report on Thursday, April 17th.

Cascades Stock Up 0.7 %

TSE CAS traded up C$0.06 during trading hours on Tuesday, hitting C$9.13. 137,006 shares of the company traded hands, compared to its average volume of 225,951. Cascades has a twelve month low of C$8.83 and a twelve month high of C$13.42. The stock has a market capitalization of C$923.51 million, a price-to-earnings ratio of -12.31, a P/E/G ratio of 0.56 and a beta of 0.15. The company has a debt-to-equity ratio of 121.37, a quick ratio of 0.86 and a current ratio of 1.22. The business's 50-day moving average is C$10.34 and its 200-day moving average is C$11.23.

Insider Activity

In other Cascades news, Senior Officer Luc Langevin sold 9,000 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of C$9.82, for a total transaction of C$88,380.00. 23.78% of the stock is currently owned by company insiders.

Cascades Company Profile

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.

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