Cascades (TSE:CAS) Price Target Raised to C$23.00

Cascades (TSE:CAS) had its target price lifted by Canadian Imperial Bank of Commerce from C$17.50 to C$23.00 in a research note issued to investors on Wednesday morning,BayStreet reports.

A number of other research analysts have also weighed in on CAS. National Bank Financial boosted their target price on shares of Cascades from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research report on Monday, August 10th. TD raised their price target on Cascades from C$13.00 to C$15.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Scotia lifted their price objective on Cascades from C$16.00 to C$20.50 and gave the stock a “sector outperform” rating in a research note on Friday, August 14th. Royal Bank Of Canada boosted their price objective on Cascades from C$15.00 to C$18.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Finally, Desjardins increased their target price on Cascades from C$13.00 to C$19.00 and gave the company a “hold” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$17.75.

Cascades Trading Down 0.4%

TSE:CAS opened at C$18.16 on Wednesday. Cascades has a 12 month low of C$9.35 and a 12 month high of C$18.86. The firm has a market cap of C$1.84 billion, a price-to-earnings ratio of 14.65, a P/E/G ratio of 0.56 and a beta of 1.22. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 111.08. The company’s 50 day moving average is C$16.62 and its 200-day moving average is C$13.08.

Cascades (TSE:CAS) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$0.24 earnings per share for the quarter. The business had revenue of C$1.22 billion during the quarter. Cascades had a net margin of 2.64% and a return on equity of 7.24%. Equities analysts anticipate that Cascades will post 1.2959309 EPS for the current year.

Cascades Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, September 3rd were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.48 dividend on an annualized basis and a yield of 2.6%. Cascades’s dividend payout ratio is 38.71%.

Insiders Place Their Bets

In other Cascades news, insider Allan Hogg sold 17,684 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of C$17.50, for a total value of C$309,470.00. Following the sale, the insider directly owned 112,056 shares in the company, valued at C$1,960,980. This trade represents a 13.63% decrease in their position. Also, insider Jérôme Nadeau sold 5,234 shares of Cascades stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of C$17.30, for a total transaction of C$90,548.20. Following the transaction, the insider directly owned 21,997 shares of the company’s stock, valued at C$380,548.10. This represents a 19.22% decrease in their ownership of the stock. Insiders have sold 27,395 shares of company stock worth $480,844 in the last ninety days. Insiders own 23.78% of the company’s stock.

Cascades Company Profile

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.