Canadian Imperial Bank of Commerce Upgrades Cascades (TSE:CAS) to Strong-Buy

Cascades (TSE:CAS) was upgraded by analysts at Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts have also issued reports on CAS. National Bank Financial dropped their price objective on shares of Cascades from C$14.00 to C$13.00 and set a “sector perform” rating on the stock in a research note on Friday, May 8th. Scotiabank decreased their target price on shares of Cascades from C$16.75 to C$14.50 and set an “outperform” rating for the company in a research note on Monday, April 13th. Desjardins lowered their price target on shares of Cascades from C$15.00 to C$13.00 and set a “hold” rating for the company in a report on Monday, April 13th. TD lifted their price target on shares of Cascades from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada cut their price objective on shares of Cascades from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$13.93.

Cascades Price Performance

Shares of TSE CAS opened at C$12.39 on Tuesday. Cascades has a 1-year low of C$8.90 and a 1-year high of C$14.20. The business has a 50-day moving average of C$11.23 and a 200-day moving average of C$11.80. The company has a debt-to-equity ratio of 113.03, a current ratio of 1.53 and a quick ratio of 0.86. The company has a market capitalization of C$1.26 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.56 and a beta of 1.03.

Cascades (TSE:CAS) last announced its earnings results on Thursday, May 7th. The company reported C$0.07 EPS for the quarter. The business had revenue of C$1.12 billion for the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%. On average, equities analysts anticipate that Cascades will post 1.2959309 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Laurent Lemaire acquired 23,302 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was bought at an average cost of C$10.52 per share, with a total value of C$245,137.04. Following the acquisition, the insider directly owned 7,837,637 shares in the company, valued at approximately C$82,451,941.24. The trade was a 0.30% increase in their ownership of the stock. 23.78% of the stock is owned by company insiders.

About Cascades

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.