Cascades (TSE:CAS) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Cascades Inc. (TSE:CAS)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$12.06 and traded as low as C$10.48. Cascades shares last traded at C$10.54, with a volume of 106,898 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. TD dropped their target price on Cascades from C$14.00 to C$13.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Scotiabank reduced their price target on Cascades from C$16.75 to C$14.50 and set an “outperform” rating on the stock in a report on Monday, April 13th. Royal Bank Of Canada decreased their price target on Cascades from C$15.00 to C$14.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. National Bank Financial dropped their price objective on Cascades from C$14.00 to C$13.00 and set a “sector perform” rating for the company in a report on Friday, May 8th. Finally, Desjardins dropped their price objective on Cascades from C$15.00 to C$13.00 and set a “hold” rating for the company in a report on Monday, April 13th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$13.64.

Cascades Stock Down 0.6%

The company’s 50 day moving average is C$10.91 and its 200 day moving average is C$12.06. The company has a market cap of C$1.07 billion, a PE ratio of 10.54, a P/E/G ratio of 0.56 and a beta of 1.07. The company has a current ratio of 1.53, a quick ratio of 0.86 and a debt-to-equity ratio of 113.03.

Cascades (TSE:CAS) last released its quarterly earnings data on Thursday, May 7th. The company reported C$0.07 earnings per share (EPS) for the quarter. The company had revenue of C$1.13 billion during the quarter. Cascades had a net margin of 2.15% and a return on equity of 5.95%. As a group, analysts predict that Cascades Inc. will post 1.2959309 earnings per share for the current fiscal year.

Cascades Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, June 4th will be issued a $0.12 dividend. The ex-dividend date is Thursday, May 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.6%. Cascades’s payout ratio is presently 48.00%.

Insider Transactions at Cascades

In other news, insider Laurent Lemaire acquired 23,302 shares of Cascades stock in a transaction on Wednesday, May 13th. The shares were bought at an average cost of C$10.52 per share, for a total transaction of C$245,137.04. Following the acquisition, the insider directly owned 7,837,637 shares of the company’s stock, valued at C$82,451,941.24. This trade represents a 0.30% increase in their position. 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. The business activity of the company functions in Canada, the United States, Italy, and other countries. Its customer base includes food processing companies, the maintenance industry, accommodations, and housing industry, micro-businesses, and boutiques.