Cascades Inc (CAS) Given Consensus Rating of “Buy” by Analysts
Cascades Inc (TSE:CAS) has been given a consensus recommendation of “Buy” by the six ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is C$16.75.
CAS has been the topic of a number of recent research reports. Royal Bank of Canada cut their price objective on shares of Cascades from C$18.00 to C$17.00 and set an “outperform” rating on the stock in a report on Friday, August 10th. Desjardins dropped their target price on shares of Cascades from C$17.50 to C$17.00 in a research note on Saturday, July 14th.
CAS traded down C$0.01 during midday trading on Friday, reaching C$12.96. The company’s stock had a trading volume of 23,118 shares, compared to its average volume of 225,006. Cascades has a 1 year low of C$11.29 and a 1 year high of C$16.71.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 6th. Stockholders of record on Thursday, September 6th were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, August 21st. This represents a $0.16 annualized dividend and a dividend yield of 1.23%.
In other news, insider Robert F. Hall sold 70,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of C$13.58, for a total value of C$950,600.00. Also, Director Charles Malo sold 9,432 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of C$13.08, for a total transaction of C$123,370.56. In the last quarter, insiders sold 79,832 shares of company stock worth $1,079,343.
Cascades Inc produces, converts, and markets packaging and tissue products in Canada, the United States, and internationally. The company operates through four segments: Containerboard, Boxboard Europe, Specialty Products, and Tissue Papers. It offers containerboards, and coated recycled and virgin boxboards, as well as converts corrugated products.
Recommended Story: Do You Need a Fiduciary?
Receive News & Ratings for Cascades Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cascades and related companies with MarketBeat.com's FREE daily email newsletter.