Cascades (TSE:CAS) Stock Passes Above 200 Day Moving Average – What’s Next?

Cascades Inc. (TSE:CAS)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.16 and traded as high as C$12.15. Cascades shares last traded at C$12.08, with a volume of 222,295 shares changing hands.

Wall Street Analyst Weigh In

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

Cascades Stock Down 0.2%

The business has a fifty day moving average price of C$11.53 and a two-hundred day moving average price of C$10.16. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 121.37. The company has a market cap of C$1.22 billion, a price-to-earnings ratio of 60.40, a P/E/G ratio of 0.56 and a beta of 1.03.

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

Cascades Announces Dividend

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 $0.12 dividend. 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 4.0%. Cascades’s dividend payout ratio is 240.00%.

Insider Activity

In related news, insider J�R�Me Porlier sold 4,000 shares of Cascades stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of C$12.49, for a total transaction of C$49,960.00. Following the completion of the sale, the insider owned 24,467 shares of the company’s stock, valued at approximately C$305,592.83. This trade represents a 14.05% decrease in their ownership of the stock. Corporate insiders own 23.78% of the company’s stock.

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.