Cascades (TSE:CAS) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

by · The Markets Daily

Cascades Inc. (TSE:CAS – Get Free Report) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$12.73 and traded as high as C$17.49. Cascades shares last traded at C$17.33, with a volume of 272,173 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. TD increased their price target on Cascades from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. National Bank Financial upped their target price on Cascades from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. Royal Bank Of Canada increased their target price on Cascades from C$15.00 to C$18.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Canadian Imperial Bank of Commerce upgraded Cascades from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Finally, Desjardins boosted their price target on Cascades from C$13.00 to C$19.00 and gave the company a “hold” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$16.50.

Check Out Our Latest Research Report on CAS

Cascades Stock Performance

The company has a current ratio of 1.48, a quick ratio of 0.86 and a debt-to-equity ratio of 111.08. The company has a market cap of C$1.81 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 0.56 and a beta of 1.22. The company has a 50 day moving average price of C$15.82 and a 200-day moving average price of C$12.77.

Cascades (TSE:CAS – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported C$0.24 earnings per share for the quarter. Cascades had a return on equity of 7.24% and a net margin of 2.64%.The business had revenue of C$1.22 billion for the quarter. On average, equities analysts expect that Cascades Inc. will post 1.2959309 earnings per share for the current fiscal year.

Cascades Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, September 3rd were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Thursday, August 20th. Cascades’s dividend payout ratio (DPR) is presently 38.71%.

Insider Activity at Cascades

In related news, insider Allan Hogg sold 17,684 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of C$17.50, for a total value of C$309,470.00. Following the completion of the transaction, the insider owned 112,056 shares of the company’s stock, valued at C$1,960,980. This represents a 13.63% decrease in their position. Also, insider Jérôme Nadeau sold 5,234 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of C$17.30, for a total transaction of C$90,548.20. Following the completion of the sale, the insider owned 21,997 shares in the company, valued at C$380,548.10. This represents a 19.22% decrease in their position. Insiders own 23.78% of the company’s stock.

About Cascades

(Get Free Report)

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.

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