Cascades (TSE:CAS) Shares Cross Above 200-Day Moving Average - Here's Why

Cascades Inc. (TSE:CAS - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$10.82 and traded as high as C$12.94. Cascades shares last traded at C$12.89, with a volume of 175,343 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CAS shares. CIBC raised their target price on shares of Cascades from C$12.00 to C$13.00 in a report on Wednesday, January 15th. Royal Bank of Canada lifted their price objective on shares of Cascades from C$12.00 to C$13.00 and gave the stock a "sector perform" rating in a research note on Friday, December 20th. Scotiabank upgraded shares of Cascades from a "hold" rating to a "strong-buy" rating and upped their target price for the company from C$12.00 to C$15.50 in a research report on Monday, January 27th. Finally, TD Securities increased their price target on shares of Cascades from C$12.00 to C$14.00 and gave the company a "buy" rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$13.25.

Cascades Stock Down 0.5 %

The stock has a market cap of C$1.30 billion, a P/E ratio of -30.69, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15. The company's fifty day moving average price is C$12.31 and its 200-day moving average price is C$10.85. The company has a debt-to-equity ratio of 119.55, a quick ratio of 0.86 and a current ratio of 1.23.

Cascades (TSE:CAS - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported C$0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.14 by C$0.13. Cascades had a negative return on equity of 1.44% and a negative net margin of 0.91%. During the same quarter last year, the firm earned $0.44 earnings per share. Equities analysts forecast 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, December 5th. Shareholders of record on Thursday, December 5th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Thursday, November 21st. Cascades's dividend payout ratio (DPR) is presently -114.29%.

Insider Transactions at Cascades

In other Cascades news, Senior Officer Luc Langevin sold 3,000 shares of Cascades stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of C$11.30, for a total transaction of C$33,900.00. Corporate insiders own 23.78% of the company's stock.

Cascades Company Profile

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.