Cascades (TSE:CAS) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Cascades Inc. (TSE:CAS)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$11.80 and traded as high as C$12.57. Cascades shares last traded at C$12.39, with a volume of 228,753 shares.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CAS. National Bank Financial lowered their target price on shares of 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. TD lifted their price objective on Cascades from C$13.00 to C$15.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada cut their target price on Cascades from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Scotiabank reduced their price target on Cascades from C$16.75 to C$14.50 and set an “outperform” rating for the company in a report on Monday, April 13th. Finally, Desjardins dropped their price target on shares of Cascades from C$15.00 to C$13.00 and set a “hold” rating on the stock in a research note on Monday, April 13th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Cascades has an average rating of “Moderate Buy” and an average target price of C$13.93.

Cascades Trading Down 0.2%

The firm has a market capitalization of C$1.26 billion, a P/E ratio of 12.39, a P/E/G ratio of 0.56 and a beta of 1.03. The company has a current ratio of 1.53, a quick ratio of 0.86 and a debt-to-equity ratio of 113.03. The stock has a 50 day simple moving average of C$11.23 and a 200-day simple moving average of C$11.80.

Cascades (TSE:CAS) last posted 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$1.12 billion for the quarter. Cascades had a net margin of 2.15% and a return on equity of 5.95%. On average, equities research analysts forecast that Cascades Inc. will post 1.2959309 EPS for the current fiscal year.

Cascades Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, June 4th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.9%. Cascades’s payout ratio is presently 48.00%.

Insider Activity at Cascades

In related news, insider Laurent Lemaire bought 23,302 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average cost of C$10.52 per share, with a total value of C$245,137.04. Following the acquisition, the insider owned 7,837,637 shares in the company, valued at C$82,451,941.24. This trade represents a 0.30% increase in their ownership of the stock. 23.78% of the stock is owned by company insiders.

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.