Shares of Cascades Inc (TSE:CAS) have earned an average recommendation of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$18.29.
Several brokerages have issued reports on CAS. National Bank Financial lifted their price target on Cascades from C$18.50 to C$21.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Desjardins lifted their price target on Cascades from C$15.50 to C$19.00 in a research note on Tuesday, January 30th. TD Securities raised Cascades from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$16.50 to C$18.00 in a research note on Monday, January 29th. CIBC lifted their price target on Cascades from C$14.00 to C$17.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 12th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a C$18.00 price target on shares of Cascades in a research note on Tuesday, December 5th.
Shares of Cascades (TSE:CAS) traded up C$0.33 during mid-day trading on Wednesday, reaching C$16.54. The company’s stock had a trading volume of 205,144 shares, compared to its average volume of 243,312. Cascades has a 52-week low of C$12.20 and a 52-week high of C$18.20. The company has a market capitalization of $1,540.00, a price-to-earnings ratio of 3.56 and a beta of 0.07.
In other news, insider Bernard Lemaire sold 400,000 shares of Cascades stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of C$15.48, for a total value of C$6,192,000.00. In the last ninety days, insiders have sold 519,300 shares of company stock valued at $7,705,957.
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Cascades Inc (Cascades) is a Canada-based company that produces, converts and markets packaging and tissue products consisting of recycled fibers. The Company operates through four segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes the Company’s Packaging Products) and Tissue Papers.
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