Cascades Inc (TSE:CAS) – Investment analysts at Desjardins boosted their FY2017 earnings per share estimates for shares of Cascades in a note issued to investors on Tuesday. Desjardins analyst K. Howlett now forecasts that the company will earn $0.80 per share for the year, up from their previous forecast of $0.76. Desjardins also issued estimates for Cascades’ Q4 2017 earnings at $0.22 EPS.
A number of other equities analysts have also issued reports on the stock. National Bank Financial upped their target price on shares of Cascades from C$18.50 to C$21.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. TD Securities upgraded shares of Cascades from a “hold” rating to a “buy” rating and increased their price objective for the company from C$16.50 to C$18.00 in a report on Monday, January 29th. CIBC increased their price objective on shares of Cascades from C$14.00 to C$17.00 and gave the company an “outperform” rating in a report on Tuesday, December 12th. Finally, Scotiabank restated a “sector perform” rating and issued a C$18.00 price objective on shares of Cascades in a report on Tuesday, December 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of C$18.29.
In related news, insider Bernard Lemaire sold 400,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of C$15.48, for a total value of C$6,192,000.00. Insiders sold 519,300 shares of company stock worth $7,705,957 over the last 90 days.
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Cascades Company Profile
Cascades Inc (Cascades) is a Canada-based company that produces, converts and markets packaging and tissue products consisting of recycled fibers. The Company operates through four segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes the Company’s Packaging Products) and Tissue Papers.
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