Cascades (TSE:CAS) Downgraded to “Sector Perform Overweight” at National Bank Financial

Cascades (TSE:CASGet Rating) was downgraded by investment analysts at National Bank Financial from an “outperform overweight” rating to a “sector perform overweight” rating in a note issued to investors on Thursday, PriceTargets.com reports.

A number of other research analysts also recently commented on the stock. Royal Bank of Canada downgraded shares of Cascades from an “outperform” rating to a “hold” rating and decreased their price objective for the company from C$15.00 to C$11.00 in a research report on Monday, July 18th. CIBC dropped their price objective on shares of Cascades from C$14.00 to C$11.00 and set a “neutral” rating for the company in a research note on Monday, May 16th. BMO Capital Markets dropped their price objective on shares of Cascades from C$20.00 to C$17.00 in a research note on Friday, May 13th. Scotiabank dropped their price objective on shares of Cascades from C$17.00 to C$15.00 in a research note on Friday. Finally, TD Securities dropped their price objective on shares of Cascades from C$14.00 to C$10.50 and set a “hold” rating for the company in a research note on Friday, May 13th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$13.31.

Cascades Stock Down 8.6 %

Shares of CAS stock opened at C$8.60 on Thursday. The company has a current ratio of 1.48, a quick ratio of 0.78 and a debt-to-equity ratio of 83.25. Cascades has a 1 year low of C$8.50 and a 1 year high of C$16.45. The firm’s fifty day moving average price is C$9.92 and its two-hundred day moving average price is C$11.66. The firm has a market capitalization of C$864.08 million and a P/E ratio of 6.06.

Cascades (TSE:CASGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported C($0.15) EPS for the quarter, missing analysts’ consensus estimates of C$0.03 by C($0.18). The firm had revenue of C$1.04 billion for the quarter, compared to the consensus estimate of C$1.02 billion. On average, equities analysts predict that Cascades will post 1.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Robert F. Hall sold 56,150 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of C$10.21, for a total transaction of C$573,291.50. Following the completion of the transaction, the insider now directly owns 276,977 shares in the company, valued at approximately C$2,827,935.17. In other Cascades news, Senior Officer Robert F. Hall sold 56,150 shares of the business’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of C$10.21, for a total transaction of C$573,291.50. Following the sale, the insider now directly owns 276,977 shares of the company’s stock, valued at approximately C$2,827,935.17. Also, Director Alain Lemaire sold 160,338 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of C$10.05, for a total transaction of C$1,611,396.90. Following the sale, the director now directly owns 527,565 shares in the company, valued at C$5,302,028.25. In the last three months, insiders purchased 5,900 shares of company stock worth $57,331 and sold 216,764 shares worth $2,187,531.

About Cascades

(Get Rating)

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 manufactures containerboards, as well as converts corrugated products. The company also offers uncoated recycled paperboards for use in packaging converters and industrial users of headers and wrappers for the paper industry, as well as partitions that are used as protective packaging; honeycomb paperboards for the beer, wine, and spirits industry; laminated paperboards for food packaging and furniture backing industries; and specialty containers, structural components, and paperboard and fiber composites.

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