TD Securities Forecasts Strong Price Appreciation for Cascades (TSE:CAS) Stock

Cascades (TSE:CAS) had its price target hoisted by TD Securities from C$12.00 to C$14.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently weighed in on the stock. CIBC reduced their target price on shares of Cascades from C$11.00 to C$10.50 and set a “neutral” rating on the stock in a report on Monday, August 12th. Royal Bank of Canada boosted their price objective on shares of Cascades from C$11.00 to C$12.00 in a research report on Friday. Finally, Scotiabank cut their price target on Cascades from C$12.00 to C$11.00 and set a “sector perform” rating on the stock in a research note on Monday, August 12th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$11.92.

Cascades Stock Performance

Shares of TSE CAS opened at C$11.25 on Friday. The company has a debt-to-equity ratio of 119.55, a current ratio of 1.23 and a quick ratio of 0.86. Cascades has a 1 year low of C$8.83 and a 1 year high of C$15.00. The firm has a fifty day moving average price of C$10.18 and a 200-day moving average price of C$9.67. The stock has a market cap of C$1.14 billion, a PE ratio of -26.79, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15.

Cascades Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, December 5th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.48 annualized dividend and a yield of 4.27%. Cascades’s payout ratio is -114.29%.

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.