Desjardins Reaffirms Hold Rating for Cascades Inc (CAS)
Cascades Inc (TSE:CAS)‘s stock had its “hold” rating restated by equities research analysts at Desjardins in a report issued on Friday.
CAS has been the topic of several other research reports. TD Securities raised their target price on shares of Cascades from C$11.50 to C$12.50 and gave the stock a “buy” rating in a report on Monday, August 8th. CIBC upgraded shares of Cascades from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from C$8.00 to C$12.00 in a research report on Monday, August 29th. Scotiabank reiterated an “outperform” rating and issued a C$12.50 price target on shares of Cascades in a research report on Monday, August 8th. National Bank Financial upgraded shares of Cascades from a “sector perform” rating to an “outperform” rating in a research report on Monday, July 11th. Finally, Dundee Securities increased their price target on shares of Cascades from C$12.00 to C$15.00 and gave the stock a “buy” rating in a research report on Wednesday, June 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of C$11.50.
Shares of Cascades (TSE:CAS) traded up 0.94% on Friday, reaching $11.82. 52,331 shares of the company traded hands. Cascades has a 1-year low of $7.72 and a 1-year high of $13.65. The firm has a market capitalization of $1.12 billion and a P/E ratio of 20.00. The stock has a 50-day moving average price of $10.20 and a 200 day moving average price of $9.43.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, September 2nd were given a dividend of $0.04 per share. The ex-dividend date was Wednesday, August 24th. This represents a $0.16 annualized dividend and a dividend yield of 1.37%.
Cascades Inc (Cascades) is a Canada-based company that produces, converts and markets packaging and tissue products consisting of recycled fibers. The Company operates through four segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes the Company’s Packaging Products) and Tissue Papers.
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