Cascades (TSE:CAS) Hits New 52-Week High – What’s Next?

Shares of Cascades Inc. (TSE:CAS) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$14.33 and last traded at C$14.22, with a volume of 94067 shares trading hands. The stock had previously closed at C$14.16.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Scotiabank lowered their target price 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. Canadian Imperial Bank of Commerce upgraded shares of Cascades from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. TD boosted their price target on shares of Cascades from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Desjardins reduced 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 report on Monday, April 13th. Finally, Royal Bank Of Canada lowered their price objective 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$13.93.

Cascades Trading Up 0.6%

The company’s 50 day simple moving average is C$11.82 and its 200 day simple moving average is C$11.84. The company has a debt-to-equity ratio of 113.03, a current ratio of 1.53 and a quick ratio of 0.86. The firm has a market cap of C$1.44 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 0.56 and a beta of 1.03.

Cascades (TSE:CAS) last announced its quarterly earnings data on Thursday, May 7th. The company reported C$0.07 earnings per share (EPS) for the quarter. The business had revenue of C$1.12 billion for the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%. As a group, research analysts expect that Cascades Inc. will post 1.2959309 earnings per share for the current fiscal year.

Cascades Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, June 4th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.48 annualized dividend and a yield of 3.4%. Cascades’s dividend payout ratio is 48.00%.

Insider Transactions at Cascades

In related news, insider Laurent Lemaire purchased 23,302 shares of Cascades stock in a transaction on Wednesday, May 13th. The shares were bought at an average price of C$10.52 per share, with a total value of C$245,137.04. Following the transaction, the insider directly owned 7,837,637 shares of the company’s stock, valued at approximately 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 corporate insiders.

Cascades Company Profile

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.