Cascades (TSE:CAS) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Cascades Inc. (TSE:CAS)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$10.37 and traded as high as C$12.33. Cascades shares last traded at C$12.22, with a volume of 25,788 shares changing hands.

Analyst Upgrades and Downgrades

CAS has been the subject of several recent analyst reports. Desjardins upped their target price on shares of Cascades from C$10.50 to C$13.50 and gave the stock a “hold” rating in a research report on Friday, November 7th. Scotiabank increased their price objective on Cascades from C$12.00 to C$13.50 in a report on Monday, November 10th. TD Securities raised their target price on Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a research report on Friday, November 7th. CIBC boosted their price target on Cascades from C$12.00 to C$13.00 in a research report on Monday, November 10th. Finally, Royal Bank Of Canada increased their price target on Cascades from C$14.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$13.50.

Cascades Price Performance

The stock has a market capitalization of C$1.24 billion, a price-to-earnings ratio of 61.10, a P/E/G ratio of 0.56 and a beta of 1.03. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 121.37. The business has a 50-day simple moving average of C$12.02 and a two-hundred day simple moving average of C$10.37.

Cascades (TSE:CAS) last issued its quarterly earnings results on Thursday, November 6th. The company reported C$0.38 earnings per share (EPS) for the quarter. Cascades had a negative return on equity of 4.35% and a negative net margin of 1.62%.The company had revenue of C$1.24 billion for the quarter. As a group, research analysts predict that Cascades Inc. will post 1.2959309 earnings per share for the current fiscal year.

Cascades Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, December 4th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, November 20th. Cascades’s payout ratio is presently 240.00%.

Insiders Place Their Bets

In other Cascades news, insider J�R�Me Porlier sold 4,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of C$12.49, for a total value of C$49,960.00. Following the completion of the sale, the insider directly owned 24,467 shares of the company’s stock, valued at approximately C$305,592.83. This represents a 14.05% decrease in their position. Insiders own 23.78% of the company’s stock.

About Cascades

Cascades Inc, along with its subsidiaries, produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company is organized into four main business segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes packaging products), and Tissue Papers. The business activity of the company functions in Canada, the United States, Italy, and other countries. Its customer base includes food processing companies, the maintenance industry, accommodations, and housing industry, micro-businesses, and boutiques.