National Bank Financial Downgrades Cascades (TSE:CAS) to Sector Perform Overweight

Cascades (TSE:CASGet Rating) was downgraded by investment analysts at National Bank Financial from an “outperform overweight” rating to a “sector perform overweight” rating in a research report issued to clients and investors on Thursday, PriceTargets.com reports.

A number of other brokerages have also commented on CAS. Royal Bank of Canada lowered shares of Cascades from an “outperform” rating to a “hold” rating and cut their price objective for the company from C$15.00 to C$11.00 in a research report on Monday, July 18th. Scotiabank dropped their price target on shares of Cascades from C$17.00 to C$15.00 in a research report on Friday. CIBC dropped their price target on shares of Cascades from C$14.00 to C$11.00 and set a “neutral” rating for the company in a research report on Monday, May 16th. National Bankshares lowered shares of Cascades from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from C$14.00 to C$10.00 in a research report on Friday. Finally, TD Securities dropped their price target on shares of Cascades from C$14.00 to C$10.50 and set a “hold” rating for the company in a research report on Friday, May 13th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$13.31.

Cascades Stock Down 8.6 %

CAS stock opened at C$8.60 on Thursday. The company has a debt-to-equity ratio of 83.25, a current ratio of 1.48 and a quick ratio of 0.78. Cascades has a 52-week low of C$8.50 and a 52-week high of C$16.45. The company has a 50-day moving average of C$9.92 and a two-hundred day moving average of C$11.66. The stock has a market capitalization of C$864.08 million and a price-to-earnings ratio of 6.06.

Cascades (TSE:CASGet Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported C($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.03 by C($0.18). The business had revenue of C$1.04 billion for the quarter, compared to the consensus estimate of C$1.02 billion. As a group, equities research analysts anticipate that Cascades will post 1.34 EPS for the current year.

Insiders Place Their Bets

In other news, Senior Officer Allan Hogg acquired 5,000 shares of the firm’s stock in a transaction on Friday, May 13th. The shares were purchased at an average cost of C$9.70 per share, with a total value of C$48,500.00. Following the completion of the purchase, the insider now owns 97,949 shares of the company’s stock, valued at C$950,105.30. In related news, Senior Officer Allan Hogg purchased 5,000 shares of the firm’s stock in a transaction dated Friday, May 13th. The shares were acquired at an average cost of C$9.70 per share, with a total value of C$48,500.00. Following the completion of the purchase, the insider now directly owns 97,949 shares of the company’s stock, valued at C$950,105.30. Also, Director Alain Lemaire sold 160,338 shares of the stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of C$10.05, for a total transaction of C$1,611,396.90. Following the sale, the director now directly owns 527,565 shares in the company, valued at C$5,302,028.25. Over the last ninety days, insiders have bought 5,900 shares of company stock valued at $57,331 and have sold 216,764 shares valued at $2,187,531.

About Cascades

(Get Rating)

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It manufactures containerboards, as well as converts corrugated products. The company also offers uncoated recycled paperboards for use in packaging converters and industrial users of headers and wrappers for the paper industry, as well as partitions that are used as protective packaging; honeycomb paperboards for the beer, wine, and spirits industry; laminated paperboards for food packaging and furniture backing industries; and specialty containers, structural components, and paperboard and fiber composites.

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Analyst Recommendations for Cascades (TSE:CAS)

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