Cascades Inc. (OTCMKTS:CADNF) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 414,400 shares, a decrease of 30.8% from the August 15th total of 599,100 shares. Based on an average daily volume of 900 shares, the days-to-cover ratio is currently 460.4 days.
A number of research firms have weighed in on CADNF. TD Securities dropped their target price on shares of Cascades from C$20.00 to C$17.50 and set a “buy” rating on the stock in a research note on Friday, August 6th. National Bank Financial decreased their target price on shares of Cascades from C$21.00 to C$19.00 and set an “outperform” rating for the company in a research note on Friday, August 6th. BMO Capital Markets lifted their target price on shares of Cascades from C$18.00 to C$20.00 and gave the company an “outperform” rating in a research note on Tuesday, July 6th. CIBC boosted their target price on shares of Cascades from C$17.00 to C$20.00 and gave the stock an “outperform” rating in a report on Tuesday, July 20th. Finally, Scotiabank raised shares of Cascades from a “sector perform” rating to an “outperform” rating in a research report on Monday, July 5th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Cascades has a consensus rating of “Buy” and a consensus price target of $19.14.
OTCMKTS CADNF opened at $11.79 on Tuesday. Cascades has a 12 month low of $10.00 and a 12 month high of $14.66. The stock has a 50-day simple moving average of $12.35 and a 200 day simple moving average of $12.22.
Cascades, Inc produces, converts and markets packaging and tissue products composed mainly of recycled fibres. It operates through the following segments: Industrial Packaging and Consumer Product Packaging. The Industrial Packaging segment is active in specialty containers, structural components and paperboard, fibre composites and protective packaging markets.
Further Reading: Dual Listing
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