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Cascades ( (TSE:CAS) ) has provided an announcement.
Cascades Inc. has announced the permanent closure of its corrugated medium manufacturing facility in Niagara Falls, NY, as part of its strategy to optimize its packaging production platform. This decision, which will affect 123 employees, is aimed at enhancing profitability and customer service levels. Despite the closure, Cascades remains committed to strategic growth and will provide job search support to the affected employees. The company emphasizes that the closure will not impact its ability to serve customers due to its streamlined operations.
The most recent analyst rating on (TSE:CAS) stock is a Hold with a C$12.50 price target. To see the full list of analyst forecasts on Cascades stock, see the TSE:CAS Stock Forecast page.
Spark’s Take on TSE:CAS Stock
According to Spark, TipRanks’ AI Analyst, TSE:CAS is a Neutral.
Cascades’ overall score reflects stable revenue growth and solid cash flow management. However, the company’s profitability challenges, evidenced by negative net income and a high debt level, weigh heavily on its financial health. The recent issuance of senior notes is a positive step towards improving liquidity and reducing leverage. Despite short-term positive technical signals, longer-term challenges remain, affecting the overall stock outlook.
To see Spark’s full report on TSE:CAS stock, click here.
More about Cascades
Founded in 1964, Cascades offers sustainable, innovative, and value-added packaging, hygiene, and recovery solutions. The company employs approximately 9,600 people across 66 operating facilities in North America, including 17 Recovery and Recycling facilities. Cascades is known for its participative management, extensive experience in recycling, and continuous research and development efforts, contributing to the well-being of people, communities, and the planet. Its shares trade on the Toronto Stock Exchange under the ticker symbol CAS.
Average Trading Volume: 287,632
Technical Sentiment Signal: Sell
Current Market Cap: C$926.2M
For an in-depth examination of CAS stock, go to TipRanks’ Overview page.