Cascades Inc. (TSE:CAS - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$9.74 and traded as high as C$11.24. Cascades shares last traded at C$11.08, with a volume of 92,573 shares trading hands.
Wall Street Analyst Weigh In
CAS has been the subject of several analyst reports. TD Securities raised their price objective on Cascades from C$12.00 to C$14.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Scotiabank lowered their price objective on Cascades from C$12.00 to C$11.00 and set a "sector perform" rating for the company in a research note on Monday, August 12th. Royal Bank of Canada increased their price target on Cascades from C$11.00 to C$12.00 in a report on Friday, November 8th. Finally, CIBC reduced their price target on Cascades from C$11.00 to C$10.50 and set a "neutral" rating on the stock in a report on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Cascades presently has an average rating of "Hold" and an average price target of C$11.92.
Get Our Latest Stock Report on Cascades
Cascades Price Performance
The firm has a fifty day simple moving average of C$10.44 and a 200 day simple moving average of C$9.75. The company has a market capitalization of C$1.13 billion, a PE ratio of -26.57, a P/E/G ratio of 0.56 and a beta of 0.15. 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 Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.48 annualized dividend and a yield of 4.30%. Cascades's payout ratio is currently -114.29%.
Insiders Place Their Bets
In other Cascades news, Senior Officer Luc Langevin sold 3,000 shares of the firm's 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. 23.78% of the stock is currently owned by company insiders.
About Cascades
(
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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.
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