Cascades (TSE:CAS) Stock Price Down 3.9% – Here’s What Happened

Cascades Inc. (TSE:CAS) was down 3.9% during trading on Thursday . The company traded as low as C$12.21 and last traded at C$12.30. Approximately 91,738 shares were traded during trading, a decline of 60% from the average daily volume of 226,883 shares. The stock had previously closed at C$12.80.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CAS shares. Royal Bank of Canada upped 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. TD Securities upped their price objective on shares of Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a research note on Friday, November 8th. CIBC lifted their target price on shares of Cascades from C$12.00 to C$13.00 in a research note on Wednesday, January 15th. Finally, Scotiabank upgraded Cascades from a “hold” rating to a “strong-buy” rating and increased their price objective for the stock from C$12.00 to C$15.50 in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cascades presently has a consensus rating of “Moderate Buy” and an average target price of C$13.25.

Cascades Stock Down 6.3 %

The business has a 50-day simple moving average of C$12.36 and a two-hundred day simple moving average of C$11.06. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 121.37. The company has a market cap of C$1.21 billion, a price-to-earnings ratio of -16.17, a PEG ratio of 0.56 and a beta of 0.15.

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.