Cascades Inc. (TSE:CAS) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Cascades, with five buy ratings, two holds and one strong buy. The average 12-month price target is C$16.50, while several firms recently raised their targets.
• Two company insiders sold a combined 22,918 shares at prices of C$17.30–C$17.50, reducing their individual holdings; insiders collectively own 23.78% of Cascades.
• Cascades reported quarterly EPS of C$0.24 on C$1.22 billion in revenue and pays a quarterly dividend of C$0.12, equivalent to a 2.9% yield and a 38.71% payout ratio.

Cascades Inc. (TSE:CAS - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is C$16.50.

Several research analysts recently weighed in on CAS shares. Scotia upped their price target on Cascades from C$16.00 to C$20.50 and gave the company a "sector outperform" rating in a research report on Friday, August 14th. Desjardins raised their price objective on Cascades from C$13.00 to C$19.00 and gave the stock a "hold" rating in a research report on Monday, August 10th. TD lifted their target price on Cascades from C$13.00 to C$15.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. National Bank Financial upped their target price on Cascades from C$13.00 to C$17.00 and gave the company a "sector perform" rating in a report on Monday, August 10th. Finally, Royal Bank Of Canada increased their price target on shares of Cascades from C$15.00 to C$18.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th.

Insider Buying and Selling

In other Cascades news, insider Allan Hogg sold 17,684 shares of Cascades stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of C$17.50, for a total transaction of C$309,470.00. Following the completion of the sale, the insider owned 112,056 shares of the company's stock, valued at C$1,960,980. This trade represents a 13.63% decrease in their position. Also, insider Jérôme Nadeau sold 5,234 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of C$17.30, for a total transaction of C$90,548.20. Following the transaction, the insider owned 21,997 shares in the company, valued at approximately C$380,548.10. This represents a 19.22% decrease in their ownership of the stock. 23.78% of the stock is owned by corporate insiders.

Cascades Trading Down 1.8%

TSE CAS opened at C$16.73 on Tuesday. The firm's 50 day moving average price is C$15.10 and its two-hundred day moving average price is C$12.54. The company has a debt-to-equity ratio of 111.08, a quick ratio of 0.86 and a current ratio of 1.48. Cascades has a twelve month low of C$9.35 and a twelve month high of C$17.97. The stock has a market cap of C$1.70 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.56 and a beta of 1.22.

Cascades (TSE:CAS - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported C$0.24 earnings per share (EPS) for the quarter. The company had revenue of C$1.22 billion during the quarter. Cascades had a return on equity of 7.24% and a net margin of 2.64%. Equities analysts anticipate that Cascades will post 1.2959309 EPS for the current year.

Cascades Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, September 3rd were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.9%. The ex-dividend date was Thursday, August 20th. Cascades's dividend payout ratio is currently 38.71%.

Cascades Company Profile

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.