Cascades (TSE:CAS) Upgraded to “Buy” by TD Securities

Cascades (TSE:CAS) was upgraded by equities researchers at TD Securities from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has a C$11.50 price target on the stock, up from their previous price target of C$11.00. TD Securities’ target price suggests a potential upside of 15.69% from the company’s previous close.

CAS has been the subject of a number of other reports. National Bank Financial cut their price objective on Cascades from C$12.50 to C$11.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. CIBC downgraded Cascades from an “outperform” rating to a “neutral” rating in a research report on Monday, February 25th. Finally, Royal Bank of Canada cut their price objective on Cascades from C$14.00 to C$13.00 and set an “outperform” rating for the company in a research report on Wednesday, February 20th.

Shares of TSE:CAS traded up C$1.01 during midday trading on Wednesday, reaching C$9.94. 417,108 shares of the company’s stock were exchanged, compared to its average volume of 221,454. The company has a current ratio of 1.43, a quick ratio of 0.80 and a debt-to-equity ratio of 119.03. The company has a market capitalization of $886.71 million and a price-to-earnings ratio of 49.21. Cascades has a fifty-two week low of C$7.55 and a fifty-two week high of C$13.94.

Cascades (TSE:CAS) last issued its quarterly earnings data on Thursday, May 9th. The company reported C$0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.13 by C$0.01. The business had revenue of C$1.23 billion for the quarter, compared to analyst estimates of C$1.22 billion. As a group, equities research analysts predict that Cascades will post 1.0299999 earnings per share for the current fiscal year.

Cascades Company Profile

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.

Further Reading: Derivative

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