Cascades Inc

CAS-T

TSE:CAS

14.13
0.01 (0.07%)
Cascades is a company that produces, converts, and markets packaging and tissue products composed mainly of recycled fibres. Cascades employs more than 11,000 people in more than 100 operating units in North America and Europe.
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Analysis and Opinions about CAS-T

Signal
Opinion
Expert
PAST TOP PICK
PAST TOP PICK
November 9, 2016

(Top Pick Sept 15/16, Up 2.63%) A great business, and solid free cash flow story. The balance sheet is improving every day. They use a lot of recycled resources, so would not be affected by Trump as much as the forestry industry will be.

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Cascades Inc (CAS-T)
November 9, 2016

(Top Pick Sept 15/16, Up 2.63%) A great business, and solid free cash flow story. The balance sheet is improving every day. They use a lot of recycled resources, so would not be affected by Trump as much as the forestry industry will be.

WATCH
WATCH
October 20, 2016

Cash ROE is 34% which is healthy. The chart is very interesting showing a consolidation period from February to September, and forming what he would call a tea cup and handle. Wait for it to break out, ideally on above average volume.

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Cascades Inc (CAS-T)
October 20, 2016

Cash ROE is 34% which is healthy. The chart is very interesting showing a consolidation period from February to September, and forming what he would call a tea cup and handle. Wait for it to break out, ideally on above average volume.

TOP PICK
TOP PICK
September 15, 2016

It is a large free cash flow story. It is at an inflection point. There is still a lot of upside on this one. We just saw a big increase in container board pricing in North America. He thinks they will use their free cash flow to pay down debt. He thinks at some point it could be taken over.

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Cascades Inc (CAS-T)
September 15, 2016

It is a large free cash flow story. It is at an inflection point. There is still a lot of upside on this one. We just saw a big increase in container board pricing in North America. He thinks they will use their free cash flow to pay down debt. He thinks at some point it could be taken over.

COMMENT
COMMENT
June 17, 2016

A wonderfully run company with great assets. The problem is that they are full of debt. Until they pay off a lot of their debt, he is afraid to go near them. They are in 2 main businesses, tissues such as toilet paper and hand tissues as well as container and cardboard. This part is not economically sensitive and is mostly private label. The other side is box board and container board, packaging, which is much more economically sensitive.

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Cascades Inc (CAS-T)
June 17, 2016

A wonderfully run company with great assets. The problem is that they are full of debt. Until they pay off a lot of their debt, he is afraid to go near them. They are in 2 main businesses, tissues such as toilet paper and hand tissues as well as container and cardboard. This part is not economically sensitive and is mostly private label. The other side is box board and container board, packaging, which is much more economically sensitive.

DON'T BUY
DON'T BUY
April 11, 2016

There have been some concerns over pricing pressures from heavy competition. Their industry has a weaker outlook this year.

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Cascades Inc (CAS-T)
April 11, 2016

There have been some concerns over pricing pressures from heavy competition. Their industry has a weaker outlook this year.

TOP PICK
TOP PICK
December 9, 2015

Have really driven synergies through their business and tried to cut costs. Also, benefiting from selling a lot of their product into the US on the box board and container board side of things. Those prices have been going up, and as long as the economy stays fairly steady, that is probably going to continue. They are getting the benefit of the US$. Trading at a fairly reasonable multiple.

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Cascades Inc (CAS-T)
December 9, 2015

Have really driven synergies through their business and tried to cut costs. Also, benefiting from selling a lot of their product into the US on the box board and container board side of things. Those prices have been going up, and as long as the economy stays fairly steady, that is probably going to continue. They are getting the benefit of the US$. Trading at a fairly reasonable multiple.

TOP PICK
TOP PICK
November 6, 2015

This fits in with his global growth theme. Being a cyclical and just breaking out, it hit a 52 week high. The 1st 52 week high will not be the last. It is reasonably liquid, had a breakout and is a sector outperform.

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Cascades Inc (CAS-T)
November 6, 2015

This fits in with his global growth theme. Being a cyclical and just breaking out, it hit a 52 week high. The 1st 52 week high will not be the last. It is reasonably liquid, had a breakout and is a sector outperform.

PAST TOP PICK
PAST TOP PICK
April 28, 2015

(A Top Pick May 8/14. Up 17.46%.) This has gone under a transition over the last couple of years, and they seem to be doing much better now in the box board container market. The cost of materials has mitigated margins to some extent.

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Cascades Inc (CAS-T)
April 28, 2015

(A Top Pick May 8/14. Up 17.46%.) This has gone under a transition over the last couple of years, and they seem to be doing much better now in the box board container market. The cost of materials has mitigated margins to some extent.

TOP PICK
TOP PICK
May 8, 2014

Earnings today were a bit light because of lower tissue shipments and prices on tissue, but their packaging products are doing quite well. He is seeing them doing better in box board and container board, etc. Have invested in plant facilities and equipment over the last few years. Feels they are addressing concerns about the balance sheet. He can see fairly significant capital appreciation potential.

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Earnings today were a bit light because of lower tissue shipments and prices on tissue, but their packaging products are doing quite well. He is seeing them doing better in box board and container board, etc. Have invested in plant facilities and equipment over the last few years. Feels they are addressing concerns about the balance sheet. He can see fairly significant capital appreciation potential.

TOP PICK
TOP PICK
March 19, 2013

Recently bought back in. It trades for half of book value. Lately they had announcements of product price increases. 3.8% yield. Margins will significantly improve. Balance sheet is stretched but the debt situation will be addressed by improving margins. Thinks it could be higher than 14.5 times earnings this year and 10-11 times next year.

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Cascades Inc (CAS-T)
March 19, 2013

Recently bought back in. It trades for half of book value. Lately they had announcements of product price increases. 3.8% yield. Margins will significantly improve. Balance sheet is stretched but the debt situation will be addressed by improving margins. Thinks it could be higher than 14.5 times earnings this year and 10-11 times next year.

WAIT
WAIT
February 15, 2013

Long-term lid at $5. There is some upward momentum and he thinks it could get back to the $5 level. He wants to see it break $5 to get in.

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Cascades Inc (CAS-T)
February 15, 2013

Long-term lid at $5. There is some upward momentum and he thinks it could get back to the $5 level. He wants to see it break $5 to get in.

BUY
BUY
December 31, 2012

The lumber side has been fantastic. The pulp side is at very depressed levels. Thinks this one will be buoyed up by the sector and is probably a good place to park some money.

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Cascades Inc (CAS-T)
December 31, 2012

The lumber side has been fantastic. The pulp side is at very depressed levels. Thinks this one will be buoyed up by the sector and is probably a good place to park some money.

COMMENT
COMMENT
September 26, 2012

Selling well below book value. Have recently been hints that container board prices are going up. Also, container board inventories are relatively low. Has some interesting attributes.

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Cascades Inc (CAS-T)
September 26, 2012

Selling well below book value. Have recently been hints that container board prices are going up. Also, container board inventories are relatively low. Has some interesting attributes.

DON'T BUY
DON'T BUY
December 30, 2011
Tough one because it has a lot of debt. We are in a period were debt hurts, not helps. Most companies like to lever themselves up to take advantage of low borrowing costs, earning a higher return on equity and giving the difference to shareholders. Tree business in general and this company in particular, has not been able to do that. Good news is they are paying a 4% dividend but the bad news is they are not earning it.
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Cascades Inc (CAS-T)
December 30, 2011
Tough one because it has a lot of debt. We are in a period were debt hurts, not helps. Most companies like to lever themselves up to take advantage of low borrowing costs, earning a higher return on equity and giving the difference to shareholders. Tree business in general and this company in particular, has not been able to do that. Good news is they are paying a 4% dividend but the bad news is they are not earning it.
COMMENT
COMMENT
December 19, 2011
Longer-term prospects are very good. Input costs have been getting higher and their ability to pass on the costs in the current market has been limited. However it is getting to a price level where he is watching it.
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Cascades Inc (CAS-T)
December 19, 2011
Longer-term prospects are very good. Input costs have been getting higher and their ability to pass on the costs in the current market has been limited. However it is getting to a price level where he is watching it.
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