Cascades (TSE:CAS) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Cascades Inc. (TSE:CAS) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$11.52 and traded as high as C$14.00. Cascades shares last traded at C$14.00, with a volume of 129,742 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CAS shares. National Bank Financial increased their price objective on Cascades from C$12.00 to C$15.00 and gave the stock a “sector perform” rating in a research report on Monday, February 2nd. Desjardins lifted their price target on Cascades from C$10.50 to C$13.50 and gave the company a “hold” rating in a research report on Friday, November 7th. Royal Bank Of Canada boosted their price objective on Cascades from C$14.00 to C$16.00 and gave the stock an “outperform” rating in a report on Thursday, December 18th. Scotiabank raised their target price on shares of Cascades from C$13.50 to C$16.00 and gave the company an “outperform” rating in a research note on Tuesday, January 27th. Finally, TD Securities boosted their price target on shares of Cascades from C$12.00 to C$14.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$14.58.

Cascades Stock Performance

The business has a fifty day moving average of C$13.04 and a 200 day moving average of C$11.52. The company has a market cap of C$1.42 billion, a P/E ratio of 70.00, a P/E/G ratio of 0.56 and a beta of 1.13. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 121.37.

About Cascades

Cascades Inc, along with its subsidiaries, produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company is organized into four main business segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes packaging products), and Tissue Papers. The business activity of the company functions in Canada, the United States, Italy, and other countries. Its customer base includes food processing companies, the maintenance industry, accommodations, and housing industry, micro-businesses, and boutiques.