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

Shares of Cascades Inc. (TSE:CAS) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$10.02 and traded as high as C$12.45. Cascades shares last traded at C$12.25, with a volume of 106,452 shares.

Wall Street Analyst Weigh In

A number of research firms have commented on CAS. Desjardins increased their price target on Cascades from C$10.50 to C$13.50 and gave the company a “hold” rating in a research note on Friday, November 7th. Royal Bank Of Canada upped their price objective on shares of Cascades from C$13.00 to C$14.00 and gave the company an “outperform” rating in a report on Friday, November 7th. TD Securities increased their price objective on shares of Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Scotiabank lifted their target price on shares of Cascades from C$12.00 to C$13.50 in a research note on Monday, November 10th. Finally, CIBC upped their price target on shares of Cascades from C$12.00 to C$13.00 in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$13.17.

Cascades Price Performance

The firm has a 50-day simple moving average of C$11.23 and a two-hundred day simple moving average of C$10.02. The company has a market capitalization of C$1.24 billion, a price-to-earnings ratio of 61.25, a P/E/G ratio of 0.56 and a beta of 0.87. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 121.37.

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

Cascades Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.9%. Cascades’s payout ratio is currently 240.00%.

Insider Buying and Selling

In other news, insider J�R�Me Porlier sold 4,000 shares of the stock in a transaction dated 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 completion of the sale, the insider directly owned 24,467 shares in the company, valued at C$305,592.83. This represents a 14.05% decrease in their ownership of the stock. Corporate insiders own 23.78% of the company’s stock.

About Cascades

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.