Cascades Inc. (TSE:CAS – Get Free Report) fell 17.2% during trading on Thursday . The company traded as low as C$12.19 and last traded at C$12.24. 164,865 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 226,040 shares. The stock had previously closed at C$14.79.
Analyst Upgrades and Downgrades
Several brokerages recently commented on CAS. CIBC raised their price objective on shares of Cascades from C$14.00 to C$17.00 and gave the company a “neutral” rating in a research note on Friday, January 12th. Desjardins lifted their price target on shares of Cascades from C$14.00 to C$15.50 and gave the stock a “hold” rating in a report on Tuesday. Finally, TD Securities upgraded shares of Cascades from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$13.50 to C$16.00 in a report on Thursday, January 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$15.40.
Cascades Trading Down 17.3 %
The business’s 50-day moving average price is C$13.69 and its 200 day moving average price is C$12.68. The company has a debt-to-equity ratio of 113.53, a current ratio of 1.59 and a quick ratio of 0.86. The firm has a market capitalization of C$1.23 billion, a price-to-earnings ratio of -26.67, a PEG ratio of 0.56 and a beta of 0.07.
About Cascades
Cascades Inc produces, converts, and sells 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 comprising trays and accessories, produce baskets and boxes, clamshells, produce boxes, egg packaging solutions, pizza and insulated boxes, bulk bins, cup carriers, food grade films, and customized containers for the food sector; protective packaging, including die-cut boxes, handling and shipping solutions, protective materials, large format boxes, and shipping trays; e-commerce packaging solutions, which include e-commerce boxes, custom mailer boxes, custom printing, packaging optimization products, and cutter for multi-depth boxes, as well as the solution for faster packing and shipping tests; and various retail packaging products.