CIBC Forecasts Strong Price Appreciation for Cascades (TSE:CAS) Stock

Cascades (TSE:CAS) had its price objective upped by stock analysts at CIBC from C$12.00 to C$13.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 4.33% from the company’s previous close.

CAS has been the subject of several other reports. Royal Bank of Canada boosted their target price on Cascades from C$12.00 to C$13.00 and gave the stock a “sector perform” rating in a research report on Friday, December 20th. TD Securities boosted their price objective on Cascades from C$12.00 to C$14.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Cascades currently has a consensus rating of “Hold” and a consensus target price of C$12.50.

Cascades Stock Up 1.0 %

Shares of TSE:CAS opened at C$12.46 on Wednesday. The firm has a fifty day moving average price of C$11.80 and a two-hundred day moving average price of C$10.44. The company has a market cap of C$1.26 billion, a price-to-earnings ratio of -29.67, a PEG ratio of 0.56 and a beta of 0.15. The company has a debt-to-equity ratio of 119.55, a current ratio of 1.23 and a quick ratio of 0.86. Cascades has a one year low of C$8.83 and a one year high of C$15.00.

Insider Activity

In related news, Senior Officer Luc Langevin sold 3,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was 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.