Cascades Inc. (TSE:CAS) Given Average Recommendation of “Moderate Buy” by Brokerages

Cascades Inc. (TSE:CAS) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$16.50.

Several research firms have weighed in on CAS. Royal Bank Of Canada upped their target price on Cascades from C$15.00 to C$18.00 and gave the company an “outperform” rating in a report on Monday, August 10th. TD boosted their price objective on shares of Cascades from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. National Bank Financial boosted their price objective on shares of Cascades from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research report on Monday, August 10th. Canadian Imperial Bank of Commerce raised shares of Cascades from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, Scotia raised their target price on shares of Cascades from C$16.00 to C$20.50 and gave the company a “sector outperform” rating in a report on Friday, August 14th.

Cascades Price Performance

Shares of TSE:CAS opened at C$17.25 on Friday. The firm has a market capitalization of C$1.75 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 0.56 and a beta of 1.04. The company has a debt-to-equity ratio of 111.08, a current ratio of 1.48 and a quick ratio of 0.86. The business’s 50 day simple moving average is C$13.30 and its 200-day simple moving average is C$12.15. Cascades has a 12 month low of C$9.35 and a 12 month high of C$17.97.

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. The firm had revenue of C$1.22 billion during the quarter. Cascades had a return on equity of 7.24% and a net margin of 2.64%. As a group, equities analysts forecast that Cascades will post 1.2959309 earnings per share for the current fiscal year.

Cascades Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, September 3rd will be given a $0.12 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 2.8%. Cascades’s dividend payout ratio is currently 38.71%.

Insider Buying and Selling

In other Cascades news, insider Allan Hogg sold 17,684 shares of the stock in a transaction 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 in the company, valued at approximately C$1,960,980. This represents a 13.63% decrease in their position. Also, insider Jérôme Nadeau sold 5,234 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of C$17.30, for a total value of C$90,548.20. Following the transaction, the insider directly owned 21,997 shares of the company’s stock, valued at C$380,548.10. The trade was a 19.22% decrease in their position. Company 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.