Cascades (TSE:CAS) Reaches New 52-Week High at $15.78

Cascades Inc (TSE:CAS)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as C$15.78 and last traded at C$15.73, with a volume of 167668 shares traded. The stock had previously closed at C$15.20.

A number of research firms have commented on CAS. CIBC upped their price target on Cascades from C$14.00 to C$15.00 in a research note on Monday, June 15th. TD Securities upped their price target on Cascades from C$12.50 to C$14.50 and gave the stock a “hold” rating in a research note on Friday, May 8th. National Bank Financial reduced their price objective on Cascades from C$14.00 to C$13.50 and set a “sector perform” rating on the stock in a research note on Friday, May 8th. Finally, Royal Bank of Canada cut Cascades from an “outperform” rating to a “sector perform” rating and set a C$15.00 price objective on the stock. in a research note on Thursday, April 16th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of C$14.60.

The company has a quick ratio of 0.90, a current ratio of 1.52 and a debt-to-equity ratio of 136.00. The stock has a fifty day moving average of C$14.32 and a 200-day moving average of C$12.73. The stock has a market cap of $1.44 billion and a PE ratio of 21.71.

Cascades (TSE:CAS) last released its quarterly earnings results on Thursday, May 7th. The company reported C$0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.26 by C$0.16. The company had revenue of C$1.31 billion for the quarter, compared to analysts’ expectations of C$1.28 billion. Equities research analysts forecast that Cascades Inc will post 1.27 earnings per share for the current fiscal year.

In related news, Senior Officer Luc Langevin sold 34,647 shares of the firm’s stock in a transaction dated Friday, June 19th. The shares were sold at an average price of C$14.51, for a total value of C$502,727.97. Following the completion of the sale, the insider now owns 45,436 shares in the company, valued at C$659,276.36. Also, Senior Officer Robert F. Hall sold 30,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of C$13.61, for a total transaction of C$408,300.00. Following the completion of the sale, the insider now owns 230,897 shares of the company’s stock, valued at approximately C$3,142,508.17. In the last three months, insiders have purchased 1,623 shares of company stock worth $22,721 and have 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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