Cascades (TSE:CAS) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Cascades Inc. (TSE:CAS) stock price has surpassed its 200-day moving average, trading as high as C$9.97, with the last recorded price at C$9.88.
• Analyst ratings for Cascades have varied, with price targets cut by National Bankshares and Desjardins, while Royal Bank of Canada and TD Securities have increased their targets, leading to a consensus target price of C$11.33.
• The company has declared a quarterly dividend of $0.12 per share, yielding 4.9%, to be paid on September 4th, with an ex-dividend date of August 21st.

Cascades Inc. (TSE:CAS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$9.73 and traded as high as C$9.97. Cascades shares last traded at C$9.88, with a volume of 168,428 shares changing hands.

Analyst Ratings Changes

CAS has been the topic of several analyst reports. National Bankshares cut their price target on shares of Cascades from C$14.00 to C$11.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Desjardins cut their price target on shares of Cascades from C$11.00 to C$10.50 and set a "hold" rating on the stock in a report on Monday, August 11th. CIBC cut 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. Royal Bank Of Canada upped their price target on shares of Cascades from C$10.00 to C$11.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Finally, TD Securities upped their price target on shares of Cascades from C$9.50 to C$10.00 and gave the company a "hold" rating in a report on Friday, August 8th. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cascades has an average rating of "Hold" and a consensus target price of C$11.33.

Cascades Price Performance

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 firm has a market capitalization of C$999.37 million, a P/E ratio of -13.32, a P/E/G ratio of 0.56 and a beta of 0.15. The stock's 50 day simple moving average is C$9.27 and its 200 day simple moving average is C$9.73.

Cascades Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, September 4th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Thursday, August 21st. Cascades's dividend payout ratio is currently -64.73%.

Insider Activity at Cascades

In other news, Senior Officer Maryse Fernet sold 10,054 shares of the company'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 value of C$94,004.90. Also, Director Jean-David Tardif sold 5,753 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of C$9.16, for a total transaction of C$52,697.48. Insiders have sold 90,415 shares of company stock valued at $810,714 over the last 90 days. 23.78% of the stock is currently owned by insiders.

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.

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