Cascades (TSE:CAS) Stock Price Breaks Above 200-Day Moving Average – Here’s Why

Cascades Inc. (TSE:CAS) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$13.68 and traded as high as C$17.57. Cascades shares last traded at C$16.87, with a volume of 326,303 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CAS shares. TD increased their price objective on shares of Cascades from C$19.00 to C$20.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Desjardins raised their target price 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. Canadian Imperial Bank of Commerce boosted their target price on shares of Cascades from C$17.50 to C$23.00 in a report on Wednesday, September 30th. National Bank Financial boosted their target price on shares of Cascades from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. Finally, Scotia upped their price target on shares of Cascades from C$16.00 to C$20.50 and gave the stock a “sector outperform” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$18.38.

Cascades Trading Down 0.6%

The company has a market capitalization of C$1.73 billion, a PE ratio of 13.75, a P/E/G ratio of 0.56 and a beta of 1.03. The company has a debt-to-equity ratio of 111.08, a quick ratio of 0.86 and a current ratio of 1.48. The business has a fifty day moving average price of C$17.34 and a 200 day moving average price of C$13.72.

Cascades (TSE:CAS) last released its quarterly earnings data on Thursday, August 6th. The company reported C$0.24 earnings per share for the quarter. Cascades had a return on equity of 7.24% and a net margin of 2.64%. The business had revenue of C$1.22 billion for the quarter. Analysts expect that Cascades Inc. will post 1.30 EPS for the current fiscal year.

Cascades Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, September 3rd were issued a $0.12 dividend. The ex-dividend date was Thursday, August 20th. This represents a $0.48 annualized dividend and a yield of 2.8%. Cascades’s dividend payout ratio (DPR) is presently 38.71%.

Insider Buying and Selling at Cascades

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 sale, 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 business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of C$17.50, for a total transaction of C$309,470.00. Following the sale, the insider owned 112,056 shares of the company’s stock, valued at approximately C$1,960,980. This represents a 13.63% decrease in their ownership of the stock. Insiders have sold a total of 27,395 shares of company stock valued at $480,844 over the last ninety days. 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.