Cascades (TSE:CAS) Stock Rating Upgraded by TD Securities

Cascades (TSE:CAS) was upgraded by research analysts at TD Securities from a “hold” rating to a “buy” rating in a research report issued 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’ price objective would suggest a potential upside of 15.58% from the company’s previous close.

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

TSE CAS traded up C$1.02 during mid-day trading on Wednesday, reaching C$9.95. 420,190 shares of the stock were exchanged, compared to its average volume of 221,454. Cascades has a 1 year low of C$7.55 and a 1 year high of C$13.94. The company has a market capitalization of $886.71 million and a PE ratio of 49.26. The company has a debt-to-equity ratio of 119.03, a quick ratio of 0.80 and a current ratio of 1.43.

Cascades (TSE:CAS) last announced its quarterly earnings results on Thursday, May 9th. The company reported C$0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.13 by C$0.01. The firm had revenue of C$1.23 billion for the quarter, compared to analysts’ expectations of C$1.22 billion. On average, equities analysts expect that Cascades will post 1.0299999 EPS for the current year.

About Cascades

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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