TD Securities Reiterates Buy Rating for Cascades (TSE:CAS)

Cascades (TSE:CAS)‘s stock had its “buy” rating reissued by equities researchers at TD Securities in a research note issued on Wednesday, Stock Target Advisor reports.

Other equities research analysts have also issued research reports about the company. Scotiabank upgraded Cascades from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from C$18.50 to C$20.50 in a research report on Tuesday, July 6th. National Bank Financial reduced their price target on Cascades to C$19.00 and set an “outperform” rating on the stock in a research report on Friday, August 6th. National Bankshares reduced their price target on Cascades from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a research report on Friday, August 6th. CIBC reiterated a “$18.00” rating on shares of Cascades in a research report on Friday, August 27th. Finally, Desjardins upgraded Cascades from a “hold” rating to a “buy” rating in a research report on Tuesday, July 6th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$19.36.

CAS stock traded down C$0.42 during midday trading on Wednesday, reaching C$15.74. 57,743 shares of the stock were exchanged, compared to its average volume of 366,517. The stock has a market capitalization of C$1.61 billion and a PE ratio of 10.95. Cascades has a 52 week low of C$13.06 and a 52 week high of C$18.48. The company has a debt-to-equity ratio of 95.91, a current ratio of 1.72 and a quick ratio of 0.62. The company has a fifty day moving average price of C$15.57 and a 200 day moving average price of C$15.27.

In related news, Director Alain Lemaire sold 106,923 shares of the company’s stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of C$14.67, for a total transaction of C$1,568,560.41. Following the transaction, the director now directly owns 466,664 shares of the company’s stock, valued at approximately C$6,845,960.88. Also, Senior Officer Maryse Fernet sold 10,351 shares of the stock in a transaction that occurred on Wednesday, August 18th. The stock was sold at an average price of C$14.76, for a total value of C$152,780.76. Following the completion of the sale, the insider now directly owns 26,933 shares of the company’s stock, valued at C$397,531.08. Insiders sold a total of 157,974 shares of company stock worth $2,358,745 over the last three months.

About Cascades

Cascades Inc produces, converts, and markets packaging and tissue products in Canada, the United States, Italy, and internationally. The company operates through four segments: Containerboard, Boxboard Europe, Specialty Products, and Tissue Papers. It provides containerboards, and coated recycled and virgin boxboards, as well as converts corrugated products.

Further Reading: What can cause a stock to outperform?

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Analyst Recommendations for Cascades (TSE:CAS)

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