Cascades (TSE:CAS) Given New C$13.50 Price Target at Desjardins

Cascades (TSE:CAS) had its target price boosted by equities research analysts at Desjardins from C$10.50 to C$13.50 in a research note issued on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Desjardins’ price objective would suggest a potential upside of 13.64% from the stock’s previous close.

Several other equities analysts also recently issued reports on the company. Royal Bank Of Canada upgraded Cascades from a “hold” rating to a “moderate buy” rating and lifted their price objective for the company from C$11.00 to C$13.00 in a research report on Monday, October 20th. TD Securities upgraded Cascades from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$13.00.

Cascades Price Performance

Shares of Cascades stock traded up C$0.21 during mid-day trading on Friday, reaching C$11.88. 262,524 shares of the stock were exchanged, compared to its average volume of 225,997. Cascades has a fifty-two week low of C$8.30 and a fifty-two week high of C$13.42. The company has a market cap of C$1.20 billion, a price-to-earnings ratio of -148.50, a price-to-earnings-growth ratio of 0.56 and a beta of 0.87. The firm has a 50-day simple moving average of C$10.17 and a 200 day simple moving average of C$9.51. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 121.37.

About Cascades

Cascades Inc, along with its subsidiaries, produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company is organized into four main business segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes packaging products), and Tissue Papers.