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

Shares of Cascades Inc. (TSE:CAS) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$11.81 and traded as high as C$11.87. Cascades shares last traded at C$11.67, with a volume of 229,238 shares.

Analyst Upgrades and Downgrades

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

Cascades Price Performance

The company has a quick ratio of 0.86, a current ratio of 1.53 and a debt-to-equity ratio of 113.03. The firm has a fifty day moving average price of C$10.99 and a two-hundred day moving average price of C$11.81. The stock has a market capitalization of C$1.18 billion, a P/E ratio of 11.67, 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, May 7th. The company reported C$0.07 earnings per share (EPS) for the quarter. The firm had revenue of C$1.12 billion during the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%. On average, analysts expect that Cascades Inc. will post 1.2959309 EPS for the current year.

Cascades Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, June 4th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.48 annualized dividend and a yield of 4.1%. Cascades’s payout ratio is 48.00%.

Insider Activity

In other news, insider Laurent Lemaire bought 23,302 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price of C$10.52 per share, for a total transaction of C$245,137.04. Following the completion of the purchase, the insider owned 7,837,637 shares in the company, valued at approximately C$82,451,941.24. This represents a 0.30% increase in their position. Corporate insiders own 23.78% of the company’s stock.

About Cascades

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.