Cascades Inc. (TSE:CAS) Director Purchases C$100,100.00 in Stock

Cascades Inc. (TSE:CAS) Director Hugues Simon purchased 11,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of C$9.10 per share, with a total value of C$100,100.00.

Cascades Stock Down 0.3 %

TSE:CAS opened at C$9.25 on Thursday. The firm has a market cap of C$931.57 million, a P/E ratio of -44.05, a P/E/G ratio of 0.56 and a beta of 0.07. The company has a debt-to-equity ratio of 115.94, a quick ratio of 0.86 and a current ratio of 1.23. Cascades Inc. has a fifty-two week low of C$8.83 and a fifty-two week high of C$15.00. The firm has a 50-day simple moving average of C$9.26 and a two-hundred day simple moving average of C$10.17.

Cascades Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, September 5th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.19%. Cascades’s dividend payout ratio is presently -228.57%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CAS. Scotiabank decreased their price target on shares of Cascades from C$12.00 to C$11.00 and set a “sector perform” rating for the company in a research note on Monday. CIBC reduced their price objective on shares of Cascades from C$11.00 to C$10.50 and set a “neutral” rating for the company in a research note on Monday. Finally, Royal Bank of Canada reduced their price objective on shares of Cascades from C$11.00 to C$10.00 in a research note on Thursday, July 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$11.08.

Cascades Company Profile

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 offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.