Allan Hogg Sells 29,496 Shares of Cascades Inc. (TSE:CAS) Stock

Cascades Inc. (TSE:CAS) Senior Officer Allan Hogg sold 29,496 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of C$8.75, for a total value of C$258,090.00.

Cascades Stock Performance

Shares of CAS stock opened at C$8.85 on Friday. The stock has a fifty day moving average of C$9.32 and a 200 day moving average of C$10.99. Cascades Inc. has a 52 week low of C$8.30 and a 52 week high of C$13.42. The firm has a market capitalization of C$895.19 million, a price-to-earnings ratio of -11.94, a PEG ratio of 0.56 and a beta of 0.15. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 121.37.

Cascades Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, June 5th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date is Thursday, May 22nd. Cascades’s payout ratio is -64.73%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. CIBC dropped their price objective on Cascades from C$13.00 to C$10.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. National Bankshares dropped their price objective on Cascades from C$14.00 to C$11.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th. Scotiabank raised Cascades from a “hold” rating to a “strong-buy” rating and increased their price objective for the company from C$12.00 to C$15.50 in a research note on Monday, January 27th. TD Securities lowered Cascades from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$12.00 to C$9.50 in a research note on Friday, May 9th. Finally, Royal Bank of Canada dropped their price objective on Cascades from C$13.00 to C$11.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$11.40.

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.