Cascades (CAS), the Consumer Goods sector company was revisited yesterday, and remains overvalued for at least one analyst on the street. Analyst Hamir Patel from CIBC rated Cascades (CAS) a Sell, setting a C$11 price target.
According to TipRanks.com, Patel is a 4-star analyst with an average return of 6.3% and a 45.7% success rate. Patel covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co Ltd, Cascades Inc, and Norbord Inc.
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Cascades has an analyst consensus of Moderate Buy, with a price target consensus of C$13.88.
Based on Cascades’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$1.17 billion and net profit of C$36 million. In comparison, last year the company earned revenue of C$1.08 billion and had a net profit of C$57 million.
Cascades, Inc. produces, converts and markets packaging and tissue products composed mainly of recycled fibres. It operates through the following business segments: Containerboard, Boxboard Europe, Specialty Products and Tissue Papers.
The company’s shares closed on Monday at C$10.57.
