Alain Lemaire Sells 74,608 Shares of Cascades Inc. (TSE:CAS) Stock

Cascades Inc. (TSE:CAS) Director Alain Lemaire sold 74,608 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of C$8.90, for a total transaction of C$664,011.20.

Cascades Stock Performance

Shares of Cascades stock opened at C$9.18 on Thursday. The firm has a market cap of C$928.57 million, a PE ratio of -12.38, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15. The firm’s 50-day simple moving average is C$8.91 and its 200-day simple moving average is C$10.42. The company has a debt-to-equity ratio of 121.37, a quick ratio of 0.86 and a current ratio of 1.22. Cascades Inc. has a 1 year low of C$8.30 and a 1 year high of C$13.42.

Cascades Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, June 5th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.48 annualized dividend and a yield of 5.23%. Cascades’s dividend payout ratio (DPR) is -64.73%.

Analysts Set New Price Targets

A number of research firms have weighed in on CAS. TD Securities cut shares of Cascades from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$12.00 to C$9.50 in a research report on Friday, May 9th. CIBC cut their target price on shares of Cascades from C$13.00 to C$10.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Royal Bank Of Canada cut their target price on shares of Cascades from C$13.00 to C$11.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 22nd. Finally, National Bankshares cut their target price on shares of Cascades from C$14.00 to C$11.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cascades has a consensus rating of “Hold” and a consensus target price 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.