Cascades Inc. (TSE:CAS - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$10.34 and traded as low as C$9.14. Cascades shares last traded at C$9.25, with a volume of 215,859 shares.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on CAS shares. CIBC decreased their price target on shares of Cascades from C$13.00 to C$10.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. TD Securities lowered shares of Cascades from a "buy" rating to a "hold" rating and decreased their price target for the stock from C$12.00 to C$9.50 in a report on Friday, May 9th. Royal Bank Of Canada decreased their price target on shares of Cascades from C$13.00 to C$11.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 22nd. Finally, National Bankshares cut their price objective on shares of Cascades from C$14.00 to C$11.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Cascades presently has an average rating of "Hold" and an average price target of C$11.40.
Get Our Latest Stock Report on CAS
Cascades Stock Performance
The company has a market capitalization of C$935.65 million, a P/E ratio of -12.47, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 121.37. The company's 50 day moving average is C$8.94 and its 200-day moving average is C$10.34.
Cascades Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, June 5th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.19%. The ex-dividend date was Thursday, May 22nd. Cascades's payout ratio is currently -64.73%.
Insider Activity at Cascades
In related news, Director Alex Nick Blanco bought 7,331 shares of the stock in a transaction dated Tuesday, June 10th. The stock was purchased at an average cost of C$9.32 per share, with a total value of C$68,328.74. Also, Senior Officer Allan Hogg sold 29,496 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of C$8.75, for a total transaction of C$258,090.00. Insiders sold 119,911 shares of company stock valued at $1,068,804 over the last three months. Corporate insiders own 23.78% of the company's stock.
About Cascades
(
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Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.
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