Shares of Cascades Inc (TSE:CAS) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$15.20 and last traded at C$15.10, with a volume of 85139 shares traded. The stock had previously closed at C$14.95.
Several equities research analysts recently issued reports on CAS shares. Royal Bank of Canada cut shares of Cascades from an “outperform” rating to a “sector perform” rating and set a C$15.00 target price on the stock. in a report on Thursday, April 16th. TD Securities raised their target price on shares of Cascades from C$12.50 to C$14.50 and gave the stock a “hold” rating in a report on Friday, May 8th. CIBC raised their target price on shares of Cascades from C$14.00 to C$15.00 in a report on Monday, June 15th. Finally, National Bank Financial dropped their target price on shares of Cascades from C$14.00 to C$13.50 and set a “sector perform” rating on the stock in a report on Friday, May 8th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Cascades currently has a consensus rating of “Hold” and a consensus target price of C$14.60.
The company has a debt-to-equity ratio of 136.00, a current ratio of 1.52 and a quick ratio of 0.90. The firm has a market capitalization of $1.44 billion and a P/E ratio of 21.63. The company’s 50-day simple moving average is C$14.12 and its two-hundred day simple moving average is C$12.62.
Cascades (TSE:CAS) last released its quarterly earnings results on Thursday, May 7th. The company reported C$0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.26 by C$0.16. The business had revenue of C$1.31 billion during the quarter, compared to the consensus estimate of C$1.28 billion. Analysts predict that Cascades Inc will post 1.27 earnings per share for the current year.
In other news, Senior Officer Luc Langevin sold 34,647 shares of the firm’s stock in a transaction on Friday, June 19th. The shares were sold at an average price of C$14.51, for a total transaction of C$502,727.97. Following the sale, the insider now directly owns 45,436 shares in the company, valued at approximately C$659,276.36. Also, Director Alain Lemaire sold 56,081 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of C$13.88, for a total transaction of C$778,404.28. Following the sale, the director now owns 396,460 shares in the company, valued at C$5,502,864.80. Over the last quarter, insiders acquired 1,623 shares of company stock worth $22,721 and sold 367,624 shares worth $5,096,000.
About Cascades (TSE:CAS)
Cascades Inc produces, converts, and markets packaging and tissue products in Canada, the United States, and internationally. The company operates through four segments: Containerboard, Boxboard Europe, Specialty Products, and Tissue Papers. It offers containerboards, and coated recycled and virgin boxboards, as well as converts corrugated products.
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