Cascades (TSE:CAS) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Cascades Inc. (TSE:CAS) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$12.44 and traded as high as C$17.07. Cascades shares last traded at C$16.93, with a volume of 459,934 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CAS shares. Royal Bank Of Canada boosted their price objective on shares of Cascades from C$15.00 to C$18.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. TD increased their target price on Cascades from C$13.00 to C$15.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Desjardins lifted their price target on Cascades from C$13.00 to C$19.00 and gave the company a “hold” rating in a research note on Monday, August 10th. National Bank Financial boosted their price target on Cascades from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. Finally, Scotia upped their price objective on Cascades from C$16.00 to C$20.50 and gave the stock a “sector outperform” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Cascades has an average rating of “Moderate Buy” and an average target price of C$16.50.

Cascades Stock Performance

The stock’s 50-day moving average price is C$14.90 and its 200 day moving average price is C$12.48. The firm has a market cap of C$1.70 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 0.56 and a beta of 1.22. The company has a debt-to-equity ratio of 111.08, a current ratio of 1.48 and a quick ratio of 0.86.

Cascades (TSE:CAS) last released its earnings results on Thursday, August 6th. The company reported C$0.24 earnings per share for the quarter. Cascades had a net margin of 2.64% and a return on equity of 7.24%. The business had revenue of C$1.22 billion during the quarter. As a group, equities analysts predict that Cascades Inc. will post 1.2959309 EPS for the current year.

Cascades Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, September 3rd were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.9%. Cascades’s payout ratio is currently 38.71%.

Insider Transactions at Cascades

In other Cascades news, insider Allan Hogg sold 17,684 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of C$17.50, for a total value of C$309,470.00. Following the completion of the transaction, the insider directly owned 112,056 shares in the company, valued at C$1,960,980. This trade represents a 13.63% decrease in their ownership of the stock. Also, insider Jérôme Nadeau sold 5,234 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of C$17.30, for a total value of C$90,548.20. Following the transaction, the insider directly owned 21,997 shares in the company, valued at C$380,548.10. This trade represents a 19.22% decrease in their position. 23.78% of the stock is currently owned by 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.