Cascades (TSE:CAS) Stock Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Cascades Inc. shares have risen above their 200-day moving average of C$9.43, reaching a high of C$10.09 during trading, and closing at C$9.94 with a trading volume of 79,029 shares.
• Recent analyst ratings show mixed sentiments, with Desjardins reducing its price target to C$10.50 while Royal Bank of Canada raises it to C$11.00, resulting in an average "Hold" rating and a consensus price target of C$11.33.
• Cascades declared a quarterly dividend of $0.12 per share, providing a 4.8% dividend yield, although it has an unusually high payout ratio of -600.00%.

Cascades Inc. (TSE:CAS - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.43 and traded as high as C$10.09. Cascades shares last traded at C$9.94, with a volume of 79,029 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Desjardins cut their target price on Cascades from C$11.00 to C$10.50 and set a "hold" rating on the stock in a research report on Monday, August 11th. TD Securities upped their target price on Cascades from C$9.50 to C$10.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Finally, Royal Bank Of Canada upped their target price on Cascades from C$10.00 to C$11.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average 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 current ratio of 1.22 and a quick ratio of 0.86. The company has a market capitalization of C$986.24 million, a PE ratio of -121.75, a price-to-earnings-growth ratio of 0.56 and a beta of 1.08. The firm's fifty day simple moving average is C$9.61 and its 200 day simple moving average is C$9.39.

Cascades Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, September 4th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Thursday, August 21st. Cascades's dividend payout ratio is presently -600.00%.

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.