Cascades (TSE:CAS) Downgraded by National Bank Financial to Sector Perform Overweight

Cascades (TSE:CASGet Rating) was downgraded by National Bank Financial from an “outperform overweight” rating to a “sector perform overweight” rating in a research note issued to investors on Thursday, PriceTargets.com reports.

Other research analysts also recently issued research reports about the company. TD Securities reduced their target price on Cascades from C$14.00 to C$10.50 and set a “hold” rating on the stock in a report on Friday, May 13th. Royal Bank of Canada downgraded Cascades from an “outperform” rating to a “hold” rating and reduced their target price for the stock from C$15.00 to C$11.00 in a report on Monday, July 18th. National Bankshares downgraded Cascades from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from C$14.00 to C$10.00 in a report on Friday. Scotiabank reduced their target price on Cascades from C$17.00 to C$15.00 in a report on Friday. Finally, BMO Capital Markets reduced their target price on Cascades from C$20.00 to C$17.00 in a report on Friday, May 13th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$13.31.

Cascades Trading Down 8.6 %

Shares of CAS stock opened at C$8.60 on Thursday. Cascades has a 12-month low of C$8.50 and a 12-month high of C$16.45. The company has a quick ratio of 0.78, a current ratio of 1.48 and a debt-to-equity ratio of 83.25. The business has a 50-day moving average price of C$9.92 and a two-hundred day moving average price of C$11.66. The firm has a market cap of C$864.08 million and a P/E ratio of 6.06.

Cascades (TSE:CASGet Rating) last released its earnings results on Thursday, May 12th. The company reported C($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.03 by C($0.18). The firm had revenue of C$1.04 billion during the quarter, compared to the consensus estimate of C$1.02 billion. Equities analysts anticipate that Cascades will post 1.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Robert F. Hall sold 56,150 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of C$10.21, for a total value of C$573,291.50. Following the transaction, the insider now directly owns 276,977 shares of the company’s stock, valued at approximately C$2,827,935.17. In other Cascades news, Senior Officer Allan Hogg acquired 5,000 shares of the stock in a transaction that occurred on Friday, May 13th. The shares were acquired at an average cost of C$9.70 per share, with a total value of C$48,500.00. Following the transaction, the insider now owns 97,949 shares of the company’s stock, valued at approximately C$950,105.30. Also, Senior Officer Robert F. Hall sold 56,150 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of C$10.21, for a total value of C$573,291.50. Following the completion of the transaction, the insider now directly owns 276,977 shares in the company, valued at C$2,827,935.17. In the last 90 days, insiders have purchased 5,900 shares of company stock worth $57,331 and have sold 216,764 shares worth $2,187,531.

Cascades Company Profile

(Get Rating)

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It manufactures containerboards, as well as converts corrugated products. The company also offers uncoated recycled paperboards for use in packaging converters and industrial users of headers and wrappers for the paper industry, as well as partitions that are used as protective packaging; honeycomb paperboards for the beer, wine, and spirits industry; laminated paperboards for food packaging and furniture backing industries; and specialty containers, structural components, and paperboard and fiber composites.

Featured Stories

Analyst Recommendations for Cascades (TSE:CAS)

Receive News & Ratings for Cascades Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cascades and related companies with MarketBeat.com's FREE daily email newsletter.