Cascades Inc (TSE:CAS) shares dropped 12.6% during mid-day trading on Thursday . The company traded as low as C$13.83 and last traded at C$13.89. Approximately 583,327 shares were traded during mid-day trading, an increase of 141% from the average daily volume of 242,129 shares. The stock had previously closed at C$15.89.
CAS has been the subject of a number of recent analyst reports. CIBC reduced their price objective on Cascades from C$18.00 to C$14.00 in a research note on Monday, November 13th. Desjardins upped their price objective on Cascades from C$15.50 to C$19.00 in a research note on Tuesday, January 30th. TD Securities upgraded Cascades from a “hold” rating to a “buy” rating and upped their price objective for the company from C$16.50 to C$18.00 in a research note on Monday, January 29th. National Bank Financial increased their price target on Cascades from C$18.50 to C$21.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Scotiabank reiterated a “sector perform” rating and set a C$18.00 price target on shares of Cascades in a research note on Tuesday, December 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of C$18.29.
The stock has a market cap of $1,510.00, a P/E ratio of 3.42 and a beta of 0.07.
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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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