Cascades (TSE:CAS) Sets New 12-Month High – Here’s Why

Shares of Cascades Inc. (TSE:CAS) hit a new 52-week high on Friday. The stock traded as high as C$17.99 and last traded at C$17.93, with a volume of 38751 shares. The stock had previously closed at C$17.87.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce raised shares of Cascades from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. National Bank Financial increased their price target on shares of Cascades from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research note on Monday, August 10th. Desjardins increased their price target on shares of Cascades from C$13.00 to C$19.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Royal Bank Of Canada lifted their price target on shares of Cascades from C$15.00 to C$18.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Finally, Scotia boosted their price objective on shares of Cascades from C$16.00 to C$20.50 and gave the company a “sector outperform” rating in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$16.50.

Cascades Trading Up 1.9%

The business has a fifty day moving average price of C$15.92 and a 200 day moving average price of C$12.81. The company has a market capitalization of C$1.85 billion, a PE ratio of 14.69, a P/E/G ratio of 0.56 and a beta of 1.22. The company has a debt-to-equity ratio of 111.08, a quick ratio of 0.86 and a current ratio of 1.48.

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

Cascades Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, September 3rd were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, August 20th. Cascades’s payout ratio is 38.71%.

Insider Activity at Cascades

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