Cascades (TSE:CAS) Sets New 12-Month High - Here's Why

Key Points

• Cascades reached a new 52-week high of C$17.99, trading around C$17.93, with shares up 1.9%. The company has a market capitalization of approximately C$1.85 billion.
• Analysts have raised their price targets, including Scotia’s C$20.50 target and Desjardins’ C$19 target. The stock carries a “Moderate Buy” consensus rating, with an average target price of C$16.50.
• Cascades reported quarterly revenue of C$1.22 billion and EPS of C$0.24, while maintaining a quarterly dividend of C$0.12, equivalent to a 2.6% yield. Two insiders recently sold shares, though insiders still own 23.78% of the company.

Cascades Inc. (TSE:CAS - Get Free Report) hit a new 52-week high during trading on Friday. The company traded as high as C$17.99 and last traded at C$17.93, with a volume of 38751 shares trading hands. The stock had previously closed at C$17.87.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada lifted their target price 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. TD increased their price target on shares of Cascades from C$13.00 to C$15.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. National Bank Financial raised their price objective on shares of Cascades from C$13.00 to C$17.00 and gave the stock a "sector perform" rating in a research note on Monday, August 10th. Scotia lifted their price objective on Cascades from C$16.00 to C$20.50 and gave the stock a "sector outperform" rating in a research report on Friday, August 14th. Finally, Desjardins lifted 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Cascades currently has an average rating of "Moderate Buy" and an average target price of C$16.50.

Cascades Trading Up 1.9%

The business's fifty day moving average price is C$15.92 and its 200 day moving average price is C$12.81. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 111.08. The firm has a market capitalization of C$1.85 billion, a PE ratio of 14.69, a P/E/G ratio of 0.56 and a beta of 1.22.

Cascades (TSE:CAS - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$0.24 earnings per share (EPS) for the quarter. Cascades had a net margin of 2.64% and a return on equity of 7.24%. The business had revenue of C$1.22 billion for the quarter. As a group, analysts expect that Cascades Inc. will post 1.2959309 EPS for the current fiscal year.

Cascades Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, September 3rd were issued a $0.12 dividend. The ex-dividend date was Thursday, August 20th. This represents a $0.48 annualized dividend and a yield of 2.6%. Cascades's payout ratio is 38.71%.

Insiders Place Their Bets

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

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.