Cascades Inc (CAS) Given Average Rating of “Buy” by Brokerages
Cascades Inc (TSE:CAS) has earned a consensus recommendation of “Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$16.75.
CAS has been the subject of a number of analyst reports. National Bank Financial upped their target price on Cascades from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a report on Tuesday, April 10th. TD Securities lowered their target price on Cascades from C$18.00 to C$16.00 in a report on Friday, May 11th. CIBC lowered their target price on Cascades from C$17.00 to C$15.00 in a report on Friday, May 11th. Scotiabank lowered their target price on Cascades from C$18.00 to C$16.50 and set a “sector perform” rating for the company in a report on Friday, May 11th. Finally, Desjardins lowered their target price on Cascades from C$17.50 to C$17.00 in a report on Saturday, July 14th.
Shares of Cascades traded down C$0.13, reaching C$12.56, during trading hours on Friday, according to MarketBeat Ratings. The stock had a trading volume of 264,400 shares, compared to its average volume of 231,472. Cascades has a 52-week low of C$11.29 and a 52-week high of C$16.71.
In related news, insider Laurent Lemaire bought 2,350 shares of the stock in a transaction on Friday, June 8th. The stock was bought at an average price of C$12.52 per share, for a total transaction of C$29,422.00. Also, insider Allan Hogg sold 8,622 shares of the company’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of C$12.31, for a total value of C$106,136.82.
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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