Royal Bank of Canada Lowers Cascades (TSE:CAS) Price Target to C$10.00

Cascades (TSE:CAS) had its price target lowered by research analysts at Royal Bank of Canada from C$11.00 to C$10.00 in a note issued to investors on Thursday, BayStreet.CA reports. Royal Bank of Canada’s target price indicates a potential upside of 11.61% from the stock’s previous close.

Other analysts have also issued research reports about the company. National Bankshares dropped their price target on Cascades from C$13.50 to C$11.00 in a research note on Thursday, April 11th. CIBC cut their target price on shares of Cascades from C$14.00 to C$12.00 in a research note on Thursday, April 11th. Scotiabank decreased their price target on shares of Cascades from C$13.50 to C$12.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 24th. TD Securities cut their price objective on Cascades from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Finally, Desjardins decreased their target price on Cascades from C$14.50 to C$13.00 and set a “hold” rating for the company in a research report on Thursday, March 28th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$11.50.

Cascades Trading Down 0.7 %

CAS opened at C$8.96 on Thursday. The firm has a market capitalization of C$902.36 million, a price-to-earnings ratio of -42.67, a PEG ratio of 0.56 and a beta of 0.07. Cascades has a one year low of C$8.83 and a one year high of C$15.00. The business has a 50 day simple moving average of C$9.41 and a two-hundred day simple moving average of C$10.86. The company has a debt-to-equity ratio of 115.94, a current ratio of 1.23 and a quick ratio of 0.86.

Insider Buying and Selling

In other Cascades news, Director Mario Plourde sold 91,680 shares of Cascades stock in a transaction dated Friday, May 17th. The shares were sold at an average price of C$9.80, for a total value of C$898,464.00. In related news, Director Alain Lemaire sold 48,033 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of C$9.49, for a total transaction of C$455,833.17. Also, Director Mario Plourde sold 91,680 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of C$9.80, for a total transaction of C$898,464.00. Insiders have sold a total of 221,300 shares of company stock worth $2,134,240 in the last quarter. Corporate insiders own 23.84% of the company’s stock.

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.