Cascades Inc. (TSE:CAS - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-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 trading hands.
Analysts Set New Price Targets
A number of brokerages have recently commented on CAS. Royal Bank Of Canada reduced their price target on shares of Cascades from C$13.00 to C$11.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 22nd. National Bankshares reduced their price target 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. CIBC reduced their price target on shares of Cascades from C$13.00 to C$10.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Finally, TD Securities lowered shares of Cascades from a "buy" rating to a "hold" rating and reduced their price target for the stock from C$12.00 to C$9.50 in a research note on Friday, May 9th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of C$11.40.
Check Out Our Latest Report on CAS
Cascades Stock Performance
The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 121.37. The company has a market cap of C$932.61 million, a PE ratio of -12.43, a P/E/G ratio of 0.56 and a beta of 0.15. The business's fifty day moving average is C$8.96 and its 200-day moving average is C$10.29.
Cascades Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, June 5th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.21%. The ex-dividend date was Thursday, May 22nd. Cascades's dividend payout ratio is currently -64.73%.
Insider Activity
In other news, Director Alain Lemaire sold 74,608 shares of Cascades stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of C$8.90, for a total transaction of C$664,011.20. Also, Director Alex Nick Blanco purchased 7,331 shares of Cascades stock in a transaction that occurred on Tuesday, June 10th. The stock was acquired at an average price of C$9.32 per share, for a total transaction of C$68,328.74. Over the last 90 days, insiders have sold 119,911 shares of company stock valued at $1,068,804. Company insiders own 23.78% of the company's stock.
About Cascades
(
Get Free Report)
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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