Cascades (TSE:CAS) Upgraded to Strong-Buy at Scotiabank

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

Several other equities research analysts have also recently weighed in on CAS. Royal Bank of Canada upped their price target on Cascades from C$12.00 to C$13.00 and gave the stock a “sector perform” rating in a research note on Friday, December 20th. TD Securities upped their target price on shares of Cascades from C$12.00 to C$14.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, CIBC lifted their price target on shares of Cascades from C$12.00 to C$13.00 in a research report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$12.50.

Cascades Stock Up 0.6 %

Shares of TSE CAS opened at C$13.25 on Monday. The firm has a fifty day simple moving average of C$12.08 and a two-hundred day simple moving average of C$10.66. Cascades has a 12 month low of C$8.83 and a 12 month high of C$14.96. The company has a current ratio of 1.23, a quick ratio of 0.86 and a debt-to-equity ratio of 119.55. The firm has a market capitalization of C$1.34 billion, a PE ratio of -31.55, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15.

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

Insiders Place Their Bets

In other news, Senior Officer Luc Langevin sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of C$11.30, for a total transaction of C$33,900.00. Corporate insiders own 23.78% of the company’s stock.

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.