Cascades (TSE:CAS) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Cascades Inc. shares have crossed above their 200-day moving average, trading at C$9.79, signaling potential changes in market sentiment.
• Recent analyst ratings show mixed opinions, with Desjardins lowering their target from C$11.00 to C$10.50, while Royal Bank of Canada raised theirs from C$10.00 to C$11.00, maintaining a "hold" rating.
• The company declared a quarterly dividend of $0.12 per share, with a yield of 4.9%, scheduled for payment on September 4th.

Cascades Inc. (TSE:CAS - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$9.53 and traded as high as C$9.82. Cascades shares last traded at C$9.79, with a volume of 88,193 shares.

Analyst Upgrades and Downgrades

CAS has been the subject of several recent analyst reports. TD Securities raised their target price on shares of Cascades from C$9.50 to C$10.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Royal Bank Of Canada raised their target price 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 cut their target price on shares of Cascades from C$11.00 to C$10.50 and set a "hold" rating for the company in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of C$11.33.

Cascades Stock Performance

The stock has a market capitalization of C$1.01 billion, a P/E ratio of -124.25, a PEG ratio of 0.56 and a beta of 1.08. 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's fifty day simple moving average is C$9.50 and its two-hundred day simple moving average is C$9.44.

Cascades Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.48 annualized dividend and a dividend yield of 4.8%. Cascades's dividend payout ratio (DPR) is currently -600.00%.

Insider Activity at Cascades

In other news, Senior Officer Maryse Fernet sold 10,054 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of C$9.35, for a total transaction of C$94,004.90. Corporate insiders own 23.78% of the company's stock.

About Cascades

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.