Cascades (TSE:CAS) Stock Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Cascades shares rose above their 200-day moving average, reaching C$17.02 and last trading at C$16.55, compared with a 200-day average of C$12.32.
• Analyst sentiment is broadly positive: Cascades has a “Moderate Buy” consensus rating, with recent price targets ranging from C$15.00 to C$20.50 and a consensus target of C$16.50.
• The company 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 2.9% annual yield. Two insiders recently sold shares, reducing their individual holdings.

Cascades Inc. (TSE:CAS - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$12.32 and traded as high as C$17.02. Cascades shares last traded at C$16.55, with a volume of 1,190,806 shares trading hands.

Analyst Ratings Changes

CAS has been the topic of several recent analyst reports. TD boosted their price target on Cascades from C$13.00 to C$15.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Canadian Imperial Bank of Commerce raised Cascades from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Royal Bank Of Canada raised their target price on shares of Cascades from C$15.00 to C$18.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Scotia boosted their target price on shares of Cascades from C$16.00 to C$20.50 and gave the stock a "sector outperform" rating in a report on Friday, August 14th. Finally, Desjardins upped their price target on shares of 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 equities 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of C$16.50.

Cascades Trading Down 0.1%

The company has a debt-to-equity ratio of 111.08, a current ratio of 1.48 and a quick ratio of 0.86. The business has a 50-day simple moving average of C$14.09 and a two-hundred day simple moving average of C$12.32. The stock has a market cap of C$1.68 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 0.56 and a beta of 1.04.

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

Cascades Announces Dividend

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

Insider Buying and Selling

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

About Cascades

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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