Cascades Inc. (TSE:CAS – Get Free Report) has been given an average rating of “Hold” by the six brokerages that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is C$11.50.
A number of equities research analysts have recently commented on the stock. Desjardins reduced their price objective on shares of Cascades from C$14.50 to C$13.00 and set a “hold” rating on the stock in a research note on Thursday, March 28th. Scotiabank decreased their price target on Cascades from C$13.50 to C$12.00 and set a “sector perform” rating for the company in a report on Wednesday, April 24th. TD Securities lowered their price objective on Cascades from C$12.00 to C$11.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. National Bankshares cut their target price on Cascades from C$13.50 to C$11.00 in a research report on Thursday, April 11th. Finally, CIBC lowered their target price on Cascades from C$14.00 to C$12.00 in a report on Thursday, April 11th.
Read Our Latest Analysis on CAS
Cascades Stock Performance
Cascades Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, June 6th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend was Thursday, June 6th. Cascades’s dividend payout ratio (DPR) is currently -228.57%.
Insider Buying and Selling at Cascades
In related news, Senior Officer Maryse Fernet sold 13,321 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of C$9.80, for a total value of C$130,545.80. In other news, Senior Officer Maryse Fernet sold 13,321 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of C$9.80, for a total transaction of C$130,545.80. Also, Director Mario Plourde sold 91,680 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of C$9.80, for a total transaction of C$898,464.00. Over the last quarter, insiders sold 221,300 shares of company stock valued at $2,134,240. Company insiders own 23.84% of the company’s stock.
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.
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