Cascades (TSE:CAS) Stock Price Down 3.9% – Here’s What Happened

Shares of Cascades Inc. (TSE:CAS) were down 3.9% on Thursday . The stock traded as low as C$12.21 and last traded at C$12.30. 91,738 shares traded hands during trading, a decline of 60% from the average daily volume of 226,883 shares. The stock had previously closed at C$12.80.

Wall Street Analyst Weigh In

CAS has been the topic of a number of recent analyst reports. TD Securities lifted their target price on Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a research report on Friday, November 8th. CIBC lifted their price target on shares of Cascades from C$12.00 to C$13.00 in a report on Wednesday, January 15th. Royal Bank of Canada increased their price objective on shares of Cascades from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a research note on Friday, December 20th. Finally, Scotiabank upgraded shares of Cascades from a “hold” rating to a “strong-buy” rating and raised their target price for the company from C$12.00 to C$15.50 in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cascades presently has an average rating of “Moderate Buy” and a consensus price target of C$13.25.

Cascades Trading Down 2.5 %

The firm has a 50 day moving average price of C$12.34 and a two-hundred day moving average price of C$11.07. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 121.37. The company has a market cap of C$1.16 billion, a price-to-earnings ratio of -15.43, a PEG ratio of 0.56 and a beta of 0.15.

Cascades Company Profile

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.