Cascades (TSE:CAS) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Cascades Inc. (TSE:CAS) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$10.50 and traded as high as C$12.54. Cascades shares last traded at C$12.52, with a volume of 86,550 shares traded.

Analysts Set New Price Targets

CAS has been the topic of several research reports. Royal Bank Of Canada increased their target price on Cascades from C$14.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. CIBC boosted their price target on shares of Cascades from C$12.00 to C$13.00 in a research note on Monday, November 10th. Scotiabank raised their price objective on shares of Cascades from C$12.00 to C$13.50 in a research note on Monday, November 10th. TD Securities lifted their price objective on shares of Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Desjardins increased their target price on shares of Cascades from C$10.50 to C$13.50 and gave the stock a “hold” rating in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$13.50.

Cascades Price Performance

The stock’s 50-day moving average is C$12.17 and its 200 day moving average is C$10.51. The company has a debt-to-equity ratio of 121.37, a quick ratio of 0.86 and a current ratio of 1.22. The stock has a market capitalization of C$1.27 billion, a PE ratio of 62.60, a P/E/G ratio of 0.56 and a beta of 1.15.

Cascades (TSE:CAS) last posted its quarterly earnings data on Thursday, November 6th. The company reported C$0.38 earnings per share for the quarter. The business had revenue of C$1.24 billion during the quarter. Cascades had a negative return on equity of 4.35% and a negative net margin of 1.62%. As a group, equities analysts expect that Cascades Inc. will post 1.2959309 earnings per share for the current year.

Cascades Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, December 4th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, November 20th. Cascades’s dividend payout ratio is 240.00%.

Insiders Place Their Bets

In other Cascades news, insider J�R�Me Porlier sold 4,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of C$12.49, for a total value of C$49,960.00. Following the transaction, the insider directly owned 24,467 shares of the company’s stock, valued at approximately C$305,592.83. The trade was a 14.05% decrease in their position. 23.78% of the stock is currently owned by company insiders.

Cascades Company Profile

Cascades Inc, along with its subsidiaries, produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company is organized into four main business segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes packaging products), and Tissue Papers. The business activity of the company functions in Canada, the United States, Italy, and other countries. Its customer base includes food processing companies, the maintenance industry, accommodations, and housing industry, micro-businesses, and boutiques.