Cascades (TSE:CAS) Stock Price Crosses Above 200-Day Moving Average – Here’s Why
by Tristan Rich · The Markets DailyShares of Cascades Inc. (TSE:CAS – Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$12.32 and traded as high as C$17.02. Cascades shares last traded at C$16.55, with a volume of 1,190,806 shares.
Wall Street Analyst Weigh In
CAS has been the topic of several recent research reports. National Bank Financial increased their target price on shares of Cascades from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. Desjardins boosted 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. Canadian Imperial Bank of Commerce upgraded shares of Cascades from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada raised their price objective on Cascades from C$15.00 to C$18.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Finally, TD lifted their price objective on Cascades from C$13.00 to C$15.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$16.50.
Read Our Latest Research Report on Cascades
Cascades Stock Up 1.6%
The stock has a market cap of C$1.70 billion, a P/E ratio of 13.52, a P/E/G ratio of 0.56 and a beta of 1.04. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 111.08. The company has a 50-day simple moving average of C$14.19 and a two-hundred day simple moving average of C$12.33.
Cascades (TSE:CAS – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported C$0.24 earnings per share (EPS) for the quarter. Cascades had a net margin of 2.64% and a return on equity of 7.24%. The firm had revenue of C$1.22 billion for the quarter. On average, equities analysts forecast that Cascades Inc. will post 1.2959309 EPS for the current year.
Cascades Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, September 3rd will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, August 20th. Cascades’s dividend payout ratio (DPR) is 38.71%.
Insiders Place Their Bets
In other news, insider Jérôme Nadeau sold 5,234 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of C$17.30, for a total transaction of C$90,548.20. Following the completion of the sale, the insider directly owned 21,997 shares in the company, valued at approximately C$380,548.10. This represents a 19.22% decrease in their ownership of the stock. Also, insider Allan Hogg sold 17,684 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of C$17.50, for a total transaction of C$309,470.00. Following the sale, the insider owned 112,056 shares of the company’s stock, valued at approximately C$1,960,980. This represents a 13.63% decrease in their ownership of the stock. 23.78% of the stock is owned by company 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.