Cascades (TSE:CAS) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Cascades shares rose above their 200-day moving average, reaching C$17.07 and last trading at C$16.93, compared with the C$12.44 200-day average.
• Analysts have raised their price targets, with a consensus rating of “Moderate Buy” and an average target of C$16.50; Scotia’s target is the highest at C$20.50.
• The company reported quarterly EPS of C$0.24 on C$1.22 billion in revenue and pays a quarterly dividend of C$0.12 per share, equivalent to a 2.8% yield.

Cascades Inc. (TSE:CAS - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$12.44 and traded as high as C$17.07. Cascades shares last traded at C$16.93, with a volume of 459,934 shares changing hands.

Analysts Set New Price Targets

CAS has been the topic of a number of recent research reports. Scotia increased their price objective on shares of Cascades from C$16.00 to C$20.50 and gave the company a "sector outperform" rating in a research note on Friday, August 14th. National Bank Financial boosted 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. Desjardins upped their target price on Cascades from C$13.00 to C$19.00 and gave the stock a "hold" rating in a report on Monday, August 10th. Royal Bank Of Canada increased their target price on Cascades from C$15.00 to C$18.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Finally, TD lifted their price target on Cascades from C$13.00 to C$15.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$16.50.

Cascades Stock Performance

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 company has a market capitalization of C$1.72 billion, a PE ratio of 13.65, a PEG ratio of 0.56 and a beta of 1.22. The business has a 50 day simple moving average of C$14.70 and a 200 day simple moving average of C$12.44.

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

Cascades Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, September 3rd were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Thursday, August 20th. Cascades's payout ratio is presently 38.71%.

Insiders Place Their Bets

In other Cascades news, insider Allan Hogg sold 17,684 shares of the business's stock in a transaction dated 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 approximately C$1,960,980. The trade was a 13.63% decrease in their position. Also, insider Jérôme Nadeau sold 5,234 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were 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 approximately C$380,548.10. The trade was a 19.22% decrease in their position. 23.78% of the stock is owned by insiders.

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.

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