Cascades (TSE:CAS) Stock Rating Upgraded by Scotiabank

Cascades (TSE:CAS) was upgraded by equities researchers at Scotiabank from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other research analysts have also commented on the company. CIBC lifted their price target on Cascades from C$12.00 to C$13.00 in a research report on Wednesday, January 15th. Royal Bank of Canada boosted their target price on Cascades from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a report on Friday, December 20th. Finally, TD Securities boosted their target price on Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cascades has a consensus rating of “Moderate Buy” and a consensus price target of C$12.50.

Cascades Price Performance

CAS stock opened at C$13.25 on Monday. The business has a 50 day moving average price of C$12.08 and a 200 day moving average price of C$10.66. The stock has a market cap of C$1.34 billion, a price-to-earnings ratio of -31.55, a PEG ratio of 0.56 and a beta of 0.15. Cascades has a fifty-two week low of C$8.83 and a fifty-two week high of C$14.96. The company has a quick ratio of 0.86, a current ratio of 1.23 and a debt-to-equity ratio of 119.55.

Cascades (TSE:CAS) last released its quarterly earnings results on Thursday, November 7th. The company reported C$0.27 EPS for the quarter, topping the consensus estimate of C$0.14 by C$0.13. Cascades had a negative return on equity of 1.44% and a negative net margin of 0.91%. During the same quarter last year, the business earned $0.44 EPS. Equities research analysts anticipate that Cascades will post 1.2959309 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cascades news, Senior Officer Luc Langevin sold 3,000 shares of the business’s 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.