Allan Hogg Sells 17,684 Shares of Cascades (TSE:CAS) Stock

Key Points

• Insider sale: Allan Hogg sold 17,684 Cascades shares at an average price of C$17.50, generating C$309,470 and reducing his holdings by 13.63% to 112,056 shares.
• Stock and earnings: Cascades shares fell 1.3% to C$17.30, while the company reported quarterly EPS of C$0.24 and revenue of C$1.22 billion. The stock is near its 52-week high of C$17.97.
• Dividend and outlook: Cascades declared a quarterly dividend of C$0.12, equivalent to an annualized yield of 2.8%. Analysts maintain a consensus “Moderate Buy” rating, with a consensus target price of C$16.50.

Cascades Inc. (TSE:CAS - Get Free Report) insider Allan Hogg sold 17,684 shares of the firm's stock in a transaction 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 sale, the insider owned 112,056 shares in the company, valued at C$1,960,980. This trade represents a 13.63% decrease in their position.

Cascades Trading Down 1.3%

Cascades stock traded down C$0.23 during trading on Thursday, hitting C$17.30. The company's stock had a trading volume of 168,495 shares, compared to its average volume of 298,589. The stock has a market capitalization of C$1.75 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 0.56 and a beta of 1.04. The stock's fifty day moving average is C$13.16 and its 200 day moving average is C$12.12. Cascades Inc. has a 1-year low of C$9.35 and a 1-year high of C$17.97. 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 - Get Free Report) last announced its quarterly 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 company had revenue of C$1.22 billion for the quarter. As a group, equities research analysts predict that Cascades Inc. will post 1.2959309 EPS for the current year.

Cascades Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, September 3rd will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, August 20th. Cascades's dividend payout ratio is presently 38.71%.

Analyst Upgrades and Downgrades

CAS has been the topic of a number of analyst reports. Desjardins lifted their target price on Cascades from C$13.00 to C$19.00 and gave the stock a "hold" rating in a research report on Monday, August 10th. National Bank Financial increased 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. TD raised their price objective on Cascades from C$13.00 to C$15.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Canadian Imperial Bank of Commerce upgraded Cascades from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Finally, Scotia upped their target price on Cascades from C$16.00 to C$20.50 and gave the company a "sector outperform" rating in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$16.50.

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.

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