Cascades (TSE:CAS) Given New C$11.00 Price Target at Royal Bank of Canada

Cascades (TSE:CAS) had its target price lowered by Royal Bank of Canada from C$13.00 to C$11.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Other research analysts have also issued research reports about the company. CIBC raised their price objective on Cascades from C$12.00 to C$13.00 in a research report on Wednesday, January 15th. Scotiabank raised Cascades from a “hold” rating to a “strong-buy” rating and lifted their price objective for the stock from C$12.00 to C$15.50 in a research note on Monday, January 27th. Finally, TD Securities lowered their target price on Cascades from C$16.00 to C$12.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cascades presently has an average rating of “Moderate Buy” and a consensus price target of C$11.90.

Cascades Trading Down 1.0 %

Shares of CAS opened at C$8.90 on Tuesday. The firm has a market cap of C$900.24 million, a P/E ratio of -12.00, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15. 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 has a 1 year low of C$8.83 and a 1 year high of C$13.42. The company has a 50 day simple moving average of C$10.11 and a two-hundred day simple moving average of C$11.19.

Cascades Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 20th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.48 annualized dividend and a dividend yield of 5.39%. Cascades’s dividend payout ratio (DPR) is presently -64.73%.

Insider Buying and Selling

In other Cascades news, Senior Officer Luc Langevin sold 9,000 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of C$9.82, for a total value of C$88,380.00. 23.78% of the stock is currently owned by corporate insiders.

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.