Cascades (TSE:CAS) Shares Pass Below 200-Day Moving Average - Should You Sell?

Cascades Inc. (TSE:CAS - Get Free Report)'s share 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 traded.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CAS shares. 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 report on Thursday, April 24th. Royal Bank Of Canada dropped their target price on shares of Cascades from C$13.00 to C$11.00 and set a "sector perform" rating for the company in a report on Tuesday, April 22nd. TD Securities downgraded shares of Cascades from a "buy" rating to a "hold" rating and lowered their price target for the stock from C$12.00 to C$9.50 in a report on Friday, May 9th. Finally, CIBC decreased their target price on shares of Cascades from C$13.00 to C$10.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of C$11.40.

Cascades Trading Up 1.1%

The business's 50-day simple moving average is C$8.94 and its two-hundred day simple moving average is C$10.34. 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 stock has a market capitalization of C$935.65 million, a price-to-earnings ratio of -12.47, a PEG ratio of 0.56 and a beta of 0.15.

Cascades Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, June 5th were paid a $0.12 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.19%. Cascades's dividend payout ratio (DPR) is presently -64.73%.

Insiders Place Their Bets

In related news, Director Jean-David Tardif sold 5,753 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of C$9.16, for a total transaction of C$52,697.48. Also, Director Alex Nick Blanco acquired 7,331 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were acquired at an average cost of C$9.32 per share, with a total value of C$68,328.74. In the last quarter, insiders have sold 119,911 shares of company stock valued at $1,068,804. 23.78% of the stock is owned by insiders.

Cascades Company Profile

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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