Cascades (TSE:CAS) Shares Down 7.7% – Here’s Why

Cascades Inc. (TSE:CAS)’s stock price was down 7.7% on Monday . The company traded as low as C$12.92 and last traded at C$12.92. Approximately 140,586 shares were traded during trading, a decline of 26% from the average daily volume of 189,365 shares. The stock had previously closed at C$14.00.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CAS shares. TD Securities increased their price objective 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. Canadian Imperial Bank of Commerce upped their target price on Cascades from C$12.00 to C$13.00 in a report on Monday, November 10th. Desjardins raised their price target on Cascades from C$10.50 to C$13.50 and gave the stock a “hold” rating in a report on Friday, November 7th. Scotiabank boosted their price objective on Cascades from C$13.50 to C$16.00 and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Finally, Royal Bank Of Canada upped their price objective on Cascades from C$14.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$14.58.

Cascades Stock Performance

The stock has a market cap of C$1.30 billion, a price-to-earnings ratio of 64.35, a PEG ratio of 0.56 and a beta of 1.13. The company’s 50 day simple moving average is C$13.04 and its 200 day simple moving average is C$11.55. The company has a debt-to-equity ratio of 121.37, a quick ratio of 0.86 and a current ratio of 1.22.

Cascades Company Profile

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.