TD Issues Positive Forecast for Cascades (TSE:CAS) Stock Price

Cascades (TSE:CAS) had its price target raised by equities researchers at TD from C$19.00 to C$20.00 in a research note issued on Wednesday, BayStreet reports. The firm currently has a “buy” rating on the stock. TD’s price objective indicates a potential upside of 14.22% from the stock’s previous close.

Other analysts have also issued research reports about the company. National Bank Financial upped their target price on Cascades from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research note on Monday, August 10th. Desjardins lifted their price target on shares of Cascades from C$13.00 to C$19.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Royal Bank Of Canada lifted their price target on shares of Cascades from C$15.00 to C$18.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Scotia boosted their price objective on shares of Cascades from C$16.00 to C$20.50 and gave the stock a “sector outperform” rating in a report on Friday, August 14th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on shares of Cascades from C$17.50 to C$23.00 in a report on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$18.38.

Cascades Price Performance

Shares of Cascades stock traded down C$0.84 during trading on Wednesday, hitting C$17.51. 218,286 shares of the stock traded hands, compared to its average volume of 325,621. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 111.08. The stock has a market cap of C$1.78 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 0.56 and a beta of 1.03. The firm’s fifty day moving average is C$17.19 and its 200-day moving average is C$13.42. Cascades has a 52 week low of C$9.55 and a 52 week high of C$18.86.

Cascades (TSE:CAS) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$0.24 earnings per share for the quarter. The company had revenue of C$1.22 billion for the quarter. Cascades had a return on equity of 7.24% and a net margin of 2.64%. Research analysts expect that Cascades will post 1.30 EPS for the current fiscal year.

Insider Activity at Cascades

In other Cascades news, insider Jérôme Nadeau sold 5,234 shares of Cascades stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of C$17.30, for a total value of C$90,548.20. Following the transaction, the insider directly owned 21,997 shares of the company’s stock, valued at C$380,548.10. The trade was a 19.22% decrease in their position. Also, insider Emmanuelle Migneault sold 3,298 shares of Cascades stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of C$18.23, for a total value of C$60,122.54. Following the completion of the transaction, the insider directly owned 10,203 shares in the company, valued at C$186,000.69. This trade represents a 24.43% decrease in their ownership of the stock. Insiders sold 27,395 shares of company stock worth $480,844 in the last ninety days. 23.78% of the stock is owned by company insiders.

About Cascades

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.