Cascades (TSE:CAS) Share Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Cascades Inc. shares have risen above their two hundred day moving average, reaching a price of C$9.91 with a trading volume of 83,349 shares.
• Analysts have mixed opinions on the stock, with TD Securities upgrading its target to C$10.00 while Desjardins lowered theirs to C$10.50, resulting in a consensus rating of "Hold".
• The company announced a quarterly dividend of $0.12 per share, representing an annualized yield of 4.8% for investors of record on September 4th.

Cascades Inc. (TSE:CAS - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$9.63 and traded as high as C$9.95. Cascades shares last traded at C$9.91, with a volume of 83,349 shares changing hands.

Analysts Set New Price Targets

Several brokerages have weighed in on CAS. TD Securities increased their target price on shares of Cascades from C$9.50 to C$10.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Royal Bank Of Canada boosted their price target on shares of Cascades from C$10.00 to C$11.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Finally, Desjardins lowered their price objective on shares of Cascades from C$11.00 to C$10.50 and set a "hold" rating for the company in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of C$11.33.

Cascades Stock Performance

The company has a debt-to-equity ratio of 121.37, a quick ratio of 0.86 and a current ratio of 1.22. The company has a market capitalization of C$1.00 billion, a price-to-earnings ratio of -13.37, a P/E/G ratio of 0.56 and a beta of 0.15. The firm has a 50-day simple moving average of C$9.34 and a two-hundred day simple moving average of C$9.63.

Cascades Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, September 4th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Thursday, August 21st. Cascades's dividend payout ratio is presently -64.73%.

Insider Buying and Selling at Cascades

In other news, Senior Officer Maryse Fernet sold 10,054 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of C$9.35, for a total transaction of C$94,004.90. Also, Director Alain Lemaire sold 74,608 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of C$8.90, for a total value of C$664,011.20. Insiders have sold 90,415 shares of company stock valued at $810,714 in the last quarter. Corporate insiders own 23.78% of the company's stock.

Cascades Company Profile

Cascades Inc, along with its subsidiaries, produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company is organized into four main business segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes packaging products), and Tissue Papers.

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