Cascades (TSE:CAS) Upgraded at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Cascades (TSE:CAS) from a hold rating to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

Several other brokerages have also recently issued reports on CAS. Royal Bank Of Canada decreased their target price on shares of Cascades from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. TD lifted their price target on Cascades from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. National Bank Financial dropped their price target on Cascades from C$14.00 to C$13.00 and set a “sector perform” rating for the company in a research report on Friday, May 8th. Scotiabank reduced their price objective on Cascades from C$16.75 to C$14.50 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Finally, Desjardins decreased their price objective on Cascades from C$15.00 to C$13.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$13.93.

Cascades Stock Down 0.4%

TSE CAS opened at C$12.37 on Tuesday. The stock has a 50 day moving average price of C$11.30 and a 200-day moving average price of C$11.80. Cascades has a one year low of C$8.90 and a one year high of C$14.20. The company has a debt-to-equity ratio of 113.03, a quick ratio of 0.86 and a current ratio of 1.53. The company has a market capitalization of C$1.25 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.56 and a beta of 1.03.

Cascades (TSE:CAS) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.07 earnings per share for the quarter. Cascades had a net margin of 2.15% and a return on equity of 5.95%. The company had revenue of C$1.12 billion for the quarter. As a group, equities analysts predict that Cascades will post 1.2959309 EPS for the current fiscal year.

Cascades Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, June 4th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Thursday, May 21st. Cascades’s dividend payout ratio (DPR) is 48.00%.

Insider Activity at Cascades

In other news, insider Laurent Lemaire purchased 23,302 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average cost of C$10.52 per share, for a total transaction of C$245,137.04. Following the acquisition, the insider owned 7,837,637 shares of the company’s stock, valued at approximately C$82,451,941.24. This trade represents a 0.30% increase in their position. Corporate insiders own 23.78% of the company’s stock.

About Cascades

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.