Cascades Inc. (TSE:CAS) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Cascades Inc. (TSE:CAS) has been given an average rating of “Moderate Buy” by the eight analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$18.38.

A number of brokerages have weighed in on CAS. Canadian Imperial Bank of Commerce lifted their price objective on Cascades from C$17.50 to C$23.00 in a report on Wednesday, September 30th. TD boosted their target price on Cascades from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research report on Wednesday. Scotia increased their target price on Cascades from C$16.00 to C$20.50 and gave the stock a “sector outperform” rating in a research note on Friday, August 14th. Desjardins increased their target price on Cascades from C$13.00 to C$19.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Finally, National Bank Financial raised their price target on Cascades from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a report on Monday, August 10th.

Cascades Stock Performance

CAS traded up C$0.12 during trading on Friday, hitting C$18.01. The stock had a trading volume of 335,258 shares, compared to its average volume of 326,625. The company has a debt-to-equity ratio of 111.08, a quick ratio of 0.86 and a current ratio of 1.48. The firm has a market capitalization of C$1.83 billion, a P/E ratio of 14.52, a PEG ratio of 0.56 and a beta of 1.03. The company’s 50-day moving average price is C$17.32 and its 200 day moving average price is C$13.54. Cascades has a twelve month low of C$9.77 and a twelve month high of C$18.86.

Cascades (TSE:CAS) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$0.24 EPS for the quarter. The company had revenue of C$1.22 billion during the quarter. Cascades had a net margin of 2.64% and a return on equity of 7.24%. On average, equities research analysts forecast that Cascades will post 1.30 EPS for the current fiscal year.

Cascades Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, September 3rd were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, August 20th. Cascades’s dividend payout ratio is currently 38.71%.

Insiders Place Their Bets

In other Cascades news, insider Jérôme Nadeau sold 5,234 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of C$17.30, for a total transaction of C$90,548.20. Following the sale, the insider directly owned 21,997 shares in the company, valued at approximately C$380,548.10. The trade was a 19.22% decrease in their position. Also, insider Emmanuelle Migneault sold 3,298 shares of the business’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of C$18.23, for a total transaction of C$60,122.54. Following the sale, the insider owned 10,203 shares in the company, valued at C$186,000.69. The trade was a 24.43% decrease in their ownership of the stock. Over the last quarter, insiders sold 27,395 shares of company stock worth $480,844. 23.78% of the stock is owned by corporate insiders.

About Cascades

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.