Cascades Inc. (TSE:CAS) Senior Officer Sells C$88,380.00 in Stock

Cascades Inc. (TSE:CAS) Senior Officer Luc Langevin sold 9,000 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of C$9.82, for a total transaction of C$88,380.00.

Cascades Price Performance

Shares of TSE CAS remained flat at C$9.84 on Friday. 9,841 shares of the company’s stock traded hands, compared to its average volume of 238,169. The company has a 50-day simple moving average of C$11.65 and a 200 day simple moving average of C$11.26. The stock has a market cap of C$995.33 million, a P/E ratio of -13.27, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15. Cascades Inc. has a 12 month low of C$8.83 and a 12 month high of C$13.42. The company has a debt-to-equity ratio of 121.37, a current ratio of 1.22 and a quick ratio of 0.86.

Cascades Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 20th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date was Thursday, March 6th. Cascades’s dividend payout ratio is presently -64.73%.

Wall Street Analyst Weigh In

Several research firms have commented on CAS. CIBC upped their price objective on Cascades from C$12.00 to C$13.00 in a research note on Wednesday, January 15th. Scotiabank upgraded Cascades from a “hold” rating to a “strong-buy” rating and boosted their target price for the stock from C$12.00 to C$15.50 in a research report on Monday, January 27th. Finally, Royal Bank of Canada increased their target price on Cascades from C$12.00 to C$13.00 and gave the stock a “sector perform” rating in a research note on Friday, December 20th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$13.25.

About Cascades

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.