Cascades (TSE:CAS) Stock Price Down 3.9% – Here’s Why

Cascades Inc. (TSE:CAS) shares dropped 3.9% during trading on Thursday . The company traded as low as C$12.21 and last traded at C$12.30. Approximately 91,738 shares were traded during trading, a decline of 60% from the average daily volume of 226,883 shares. The stock had previously closed at C$12.80.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. TD Securities increased their target price on shares of Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Scotiabank raised Cascades from a “hold” rating to a “strong-buy” rating and increased their price target for the company from C$12.00 to C$15.50 in a research note on Monday, January 27th. Royal Bank of Canada lifted their price target on Cascades from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a research report on Friday, December 20th. Finally, CIBC upped their price objective on Cascades from C$12.00 to C$13.00 in a report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cascades has an average rating of “Moderate Buy” and a consensus target price of C$13.25.

Cascades Stock Down 6.3 %

The firm has a market capitalization of C$1.21 billion, a price-to-earnings ratio of -16.17, a PEG ratio of 0.56 and a beta of 0.15. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 121.37. The stock has a fifty day moving average of C$12.36 and a 200-day moving average of C$11.06.

About Cascades

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 offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.