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

Cascades Inc. (TSE:CAS) passed 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 trading hands.

Analyst Upgrades and Downgrades

CAS has been the subject of several recent research reports. Scotiabank boosted their target price on shares of Cascades from C$12.00 to C$13.50 in a research report on Monday, November 10th. Desjardins lifted their price objective on shares of Cascades from C$10.50 to C$13.50 and gave the company a “hold” rating in a research note on Friday, November 7th. CIBC upped their price objective on shares of Cascades from C$12.00 to C$13.00 in a report on Monday, November 10th. Royal Bank Of Canada raised their target price on Cascades from C$13.00 to C$14.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, TD Securities boosted their price target on Cascades from C$12.00 to C$14.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. One equities research 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$13.17.

Cascades Stock Down 0.2%

The firm has a market capitalization of C$1.22 billion, a price-to-earnings ratio of 60.40, a price-to-earnings-growth ratio of 0.56 and a beta of 1.03. 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 business’s 50 day moving average is C$11.53 and its 200-day moving average is C$10.16.

Cascades (TSE:CAS) last released its quarterly earnings results on Thursday, November 6th. The company reported C$0.38 earnings per share (EPS) for the quarter. The company 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%. Equities analysts anticipate that Cascades Inc. will post 1.2959309 EPS for the current fiscal year.

Cascades Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, December 4th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, November 20th. Cascades’s payout ratio is currently 240.00%.

Insider Activity at Cascades

In other news, insider J�R�Me Porlier sold 4,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was 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 of the company’s stock, valued at approximately C$305,592.83. This represents a 14.05% decrease in their ownership of the stock. 23.78% of the stock is currently owned by company insiders.

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.