Cascades (TSE:CAS) Given New C$13.50 Price Target at Scotiabank

Cascades (TSE:CAS) had its target price upped by equities researchers at Scotiabank from C$12.00 to C$13.50 in a report released on Monday,BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 11.66% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Desjardins boosted their target price on shares of Cascades from C$10.50 to C$13.50 and gave the stock a “hold” rating in a research report on Friday. Royal Bank Of Canada upped their price objective on shares of Cascades from C$13.00 to C$14.00 and gave the company an “outperform” rating in a research report on Friday. Finally, TD Securities boosted their price target on Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cascades currently has a consensus rating of “Moderate Buy” and a consensus price target of C$13.17.

Cascades Stock Up 1.8%

Cascades stock traded up C$0.21 during mid-day trading on Monday, hitting C$12.09. 204,775 shares of the company’s stock were exchanged, compared to its average volume of 225,857. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 121.37. The stock has a market cap of C$1.22 billion, a P/E ratio of -151.13, a P/E/G ratio of 0.56 and a beta of 0.87. The stock has a 50 day moving average of C$10.21 and a two-hundred day moving average of C$9.54. Cascades has a 1-year low of C$8.30 and a 1-year high of C$13.42.

About Cascades

Cascades Inc, along with its subsidiaries, produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company is organized into four main business segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes packaging products), and Tissue Papers.