Cascades (TSE:CAS) Stock Rating Upgraded by Canadian Imperial Bank of Commerce

Cascades (TSE:CAS) was upgraded by equities researchers at Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada cut their target price on shares of Cascades from C$15.00 to C$14.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. National Bank Financial lowered their price target on shares of Cascades from C$14.00 to C$13.00 and set a “sector perform” rating on the stock in a research report on Friday, May 8th. TD upped their price target on shares of Cascades from C$13.00 to C$15.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Desjardins dropped their price target on shares of Cascades from C$15.00 to C$13.00 and set a “hold” rating on the stock in a research note on Monday, April 13th. Finally, Scotiabank cut their price objective on shares of Cascades from C$16.75 to C$14.50 and set an “outperform” rating for the company in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$13.93.

Cascades Stock Performance

Shares of CAS opened at C$12.42 on Tuesday. Cascades has a 1 year low of C$8.90 and a 1 year high of C$14.20. The company has a debt-to-equity ratio of 113.03, a current ratio of 1.53 and a quick ratio of 0.86. The stock’s fifty day moving average price is C$11.27 and its two-hundred day moving average price is C$11.80. The firm has a market cap of C$1.26 billion, a PE ratio of 12.42, a PEG ratio of 0.56 and a beta of 1.03.

Cascades (TSE:CAS) last posted its quarterly earnings results on Thursday, May 7th. The company reported C$0.07 earnings per share for the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%.The company had revenue of C$1.12 billion during the quarter. On average, equities research analysts forecast that Cascades will post 1.2959309 EPS for the current year.

Insider Activity

In other news, insider Laurent Lemaire acquired 23,302 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average cost of C$10.52 per share, for a total transaction of C$245,137.04. Following the completion of the transaction, the insider owned 7,837,637 shares of the company’s stock, valued at C$82,451,941.24. The trade was a 0.30% increase in their ownership of the stock. Insiders own 23.78% of the company’s stock.

Cascades Company Profile

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.