Cascades Inc (TSE:CAS) shares traded down 1.6% on Thursday . The stock traded as low as C$14.37 and last traded at C$14.38. 183,383 shares were traded during mid-day trading, a decline of 23% from the average session volume of 237,764 shares. The stock had previously closed at C$14.62.
Several research analysts recently weighed in on the stock. Desjardins raised shares of Cascades from a “hold” rating to a “buy” rating and boosted their target price for the company from C$15.00 to C$15.50 in a research note on Wednesday, December 6th. National Bank Financial boosted their target price on shares of Cascades from C$19.00 to C$21.00 and gave the company an “outperform” rating in a research note on Friday, October 13th. CIBC downgraded shares of Cascades from an “outperform” rating to a “neutral” rating in a research note on Monday, September 25th. TD Securities cut their target price on shares of Cascades from C$18.00 to C$16.50 and set a “hold” rating for the company in a research note on Friday, November 10th. Finally, Scotiabank reissued a “sector perform” rating and issued a C$18.00 target price on shares of Cascades in a research note on Tuesday, December 5th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of C$17.21.
The firm has a market capitalization of $1,390.00 and a P/E ratio of 2.96.
In other news, insider Bernard Lemaire sold 118,500 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of C$12.69, for a total transaction of C$1,503,765.00.
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Cascades Inc (Cascades) is a Canada-based company that produces, converts and markets packaging and tissue products consisting of recycled fibers. The Company operates through four segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes the Company’s Packaging Products) and Tissue Papers.
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