Cascades (TSE:CAS) Stock Crosses Above Two Hundred Day Moving Average of $8.83

Shares of Cascades Inc. (TSE:CAS – Get Rating) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$8.83 and traded as high as C$9.18. Cascades shares last traded at C$8.98, with a volume of 129,374 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. National Bankshares dropped their price target on Cascades from C$8.00 to C$7.75 in a research report on Friday, November 11th. TD Securities dropped their price target on Cascades from C$10.50 to C$10.00 and set a “hold” rating on the stock in a research report on Friday, November 11th. CIBC dropped their price target on Cascades from C$10.00 to C$9.00 and set a “neutral” rating on the stock in a research report on Friday, November 11th. Finally, Scotiabank dropped their price target on Cascades from C$13.00 to C$12.00 in a research report on Monday, January 9th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$12.47.

Cascades Price Performance

The company has a debt-to-equity ratio of 103.53, a current ratio of 1.63 and a quick ratio of 0.86. The company has a 50-day simple moving average of C$8.35 and a two-hundred day simple moving average of C$8.83. The stock has a market capitalization of C$901.25 million and a price-to-earnings ratio of 6.32.

Cascades (TSE:CAS – Get Rating) last issued its quarterly earnings results on Thursday, November 10th. The company reported C$0.20 EPS for the quarter, beating analysts’ consensus estimates of C$0.18 by C$0.02. The business had revenue of C$1.17 billion for the quarter, compared to analyst estimates of C$1.12 billion. On average, equities research analysts predict that Cascades Inc. will post 0.88 earnings per share for the current year.

Cascades Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Thursday, December 8th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, December 8th. This represents a $0.48 annualized dividend and a yield of 5.35%. Cascades’s dividend payout ratio is currently 33.80%.

Insider Activity at Cascades

In other news, Senior Officer Robert F. Hall bought 6,410 shares of the firm’s stock in a transaction that occurred on Monday, December 19th. The stock was acquired at an average price of C$7.82 per share, with a total value of C$50,126.20. Following the completion of the purchase, the insider now directly owns 283,546 shares of the company’s stock, valued at approximately C$2,217,329.72.

Cascades Company Profile

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Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It manufactures containerboards, as well as converts corrugated products. The company also offers uncoated recycled paperboards for use in packaging converters and industrial users of headers and wrappers for the paper industry, as well as partitions that are used as protective packaging; honeycomb paperboards for the beer, wine, and spirits industry; laminated paperboards for food packaging and furniture backing industries; and specialty containers, structural components, and paperboard and fiber composites.