CIBC Cuts Cascades (TSE:CAS) Price Target to C$10.00

Cascades (TSE:CAS) had its price target lowered by CIBC from C$13.00 to C$10.00 in a report issued on Tuesday,BayStreet.CA reports. The firm currently has a neutral rating on the stock.

Other analysts have also issued reports about the company. TD Securities lowered their price target on Cascades from C$16.00 to C$12.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Royal Bank of Canada cut their price target on Cascades from C$13.00 to C$11.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Finally, Scotiabank upgraded shares of Cascades from a “hold” rating to a “strong-buy” rating and raised their target price for the stock from C$12.00 to C$15.50 in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$11.90.

Cascades Trading Down 1.0 %

Shares of TSE:CAS opened at C$8.90 on Tuesday. The firm has a market capitalization of C$900.24 million, a price-to-earnings ratio of -12.00, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15. The business’s 50 day moving average price is C$10.11 and its 200-day moving average price is C$11.19. The company has a debt-to-equity ratio of 121.37, a current ratio of 1.22 and a quick ratio of 0.86. Cascades has a 1 year low of C$8.83 and a 1 year high of C$13.42.

Cascades Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 20th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.48 annualized dividend and a yield of 5.39%. Cascades’s dividend payout ratio is presently -64.73%.

Insider Transactions at Cascades

In other Cascades news, Senior Officer Luc Langevin sold 9,000 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of C$9.82, for a total value of C$88,380.00. Corporate insiders own 23.78% of the company’s stock.

About Cascades

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 offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.