Cascades (TSE:CAS) Stock Price Passes Below 200 Day Moving Average of $10.83

Shares of Cascades Inc. (TSE:CASGet Rating) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.83 and traded as low as C$9.45. Cascades shares last traded at C$9.51, with a volume of 157,951 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CAS shares. National Bankshares lowered shares of Cascades from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$14.00 to C$10.00 in a report on Friday, August 5th. Scotiabank cut their target price on shares of Cascades from C$17.00 to C$15.00 in a report on Friday, August 5th. National Bank Financial lowered shares of Cascades from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Thursday, August 4th. Finally, Royal Bank of Canada raised shares of Cascades from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$11.00 to C$12.00 in a research note on Tuesday, September 13th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Cascades currently has an average rating of “Hold” and a consensus target price of C$13.44.

Cascades Stock Performance

The firm has a market capitalization of C$858.00 million and a P/E ratio of 5.99. The firm has a 50-day moving average price of C$9.34 and a two-hundred day moving average price of C$10.79. The company has a debt-to-equity ratio of 91.81, a current ratio of 1.60 and a quick ratio of 0.86.

Cascades (TSE:CASGet Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported C$0.10 earnings per share for the quarter, beating the consensus estimate of C$0.06 by C$0.04. The firm had revenue of C$1.12 billion during the quarter, compared to the consensus estimate of C$1.07 billion. On average, analysts forecast that Cascades Inc. will post 1.21 EPS for the current fiscal year.

Cascades Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, September 1st were issued a $0.12 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $0.48 dividend on an annualized basis and a yield of 5.64%. Cascades’s dividend payout ratio is presently 33.80%.

Insiders Place Their Bets

In other Cascades news, Senior Officer Dominic Doré purchased 11,650 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were acquired at an average price of C$8.57 per share, for a total transaction of C$99,840.50. Following the completion of the purchase, the insider now owns 35,353 shares of the company’s stock, valued at C$302,975.21. In other Cascades news, Director Mario Plourde purchased 8,300 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were acquired at an average price of C$9.25 per share, for a total transaction of C$76,775.00. Following the completion of the purchase, the director now owns 273,487 shares of the company’s stock, valued at C$2,529,754.75. Also, Senior Officer Dominic Doré purchased 11,650 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were acquired at an average price of C$8.57 per share, for a total transaction of C$99,840.50. Following the purchase, the insider now directly owns 35,353 shares of the company’s stock, valued at approximately C$302,975.21. Over the last ninety days, insiders bought 24,100 shares of company stock worth $213,367.

About Cascades

(Get Rating)

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 manufactures containerboards, as well as converts corrugated products. The company also offers uncoated recycled paperboards for use in packaging converters and industrial users of headers and wrappers for the paper industry, as well as partitions that are used as protective packaging; honeycomb paperboards for the beer, wine, and spirits industry; laminated paperboards for food packaging and furniture backing industries; and specialty containers, structural components, and paperboard and fiber composites.

Further Reading

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