Cascades (TSE:CAS) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Cascades Inc. (TSE:CAS)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$11.80 and traded as high as C$12.57. Cascades shares last traded at C$12.39, with a volume of 228,753 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. TD lifted their target price on shares of Cascades from C$13.00 to C$15.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Canadian Imperial Bank of Commerce raised shares of Cascades from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Royal Bank Of Canada cut their price objective on Cascades from C$15.00 to C$14.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Desjardins cut their price objective on Cascades from C$15.00 to C$13.00 and set a “hold” rating for the company in a report on Monday, April 13th. Finally, National Bank Financial reduced their price objective on Cascades from C$14.00 to C$13.00 and set a “sector perform” rating for the company in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cascades has a consensus rating of “Moderate Buy” and a consensus price target of C$13.93.

Cascades Stock Performance

The stock has a market cap of C$1.25 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.56 and a beta of 1.03. The firm’s 50-day moving average is C$11.27 and its two-hundred day moving average is C$11.80. The company has a quick ratio of 0.86, a current ratio of 1.53 and a debt-to-equity ratio of 113.03.

Cascades (TSE:CAS) last posted its earnings results on Thursday, May 7th. The company reported C$0.07 earnings per share (EPS) for the quarter. Cascades had a net margin of 2.15% and a return on equity of 5.95%. The firm had revenue of C$1.12 billion during the quarter. As a group, research analysts expect that Cascades Inc. will post 1.2959309 EPS for the current year.

Cascades Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, June 4th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, May 21st. Cascades’s payout ratio is presently 48.00%.

Insider Transactions at Cascades

In other Cascades news, insider Laurent Lemaire acquired 23,302 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average cost of C$10.52 per share, for a total transaction of C$245,137.04. Following the completion of the acquisition, the insider owned 7,837,637 shares of the company’s stock, valued at approximately C$82,451,941.24. This trade represents a 0.30% increase in their position. Corporate insiders own 23.78% of the company’s stock.

Cascades Company Profile

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.