Cascades (TSE:CAS) Shares Break Above 50 Day Moving Average – Here’s What Happened

Cascades Inc. (TSE:CAS)’s share price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of C$17.31 and traded as high as C$17.41. Cascades shares last traded at C$17.36, with a volume of 396,461 shares.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CAS shares. Canadian Imperial Bank of Commerce upped their price target on shares of Cascades from C$17.50 to C$23.00 in a report on Wednesday, September 30th. TD boosted their target price on shares of Cascades from C$19.00 to C$20.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Royal Bank Of Canada raised their price objective on Cascades from C$15.00 to C$18.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Desjardins boosted their target price on shares of Cascades from C$13.00 to C$19.00 and gave the company a “hold” rating in a report on Monday, August 10th. Finally, National Bank Financial increased their price target on Cascades from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cascades currently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.38.

Cascades Stock Performance

The company’s 50-day simple moving average is C$17.31 and its 200 day simple moving average is C$13.52. The stock has a market cap of C$1.75 billion, a P/E ratio of 13.90, a PEG ratio of 0.56 and a beta of 1.03. The company has a current ratio of 1.48, a quick ratio of 0.86 and a debt-to-equity ratio of 111.08.

Cascades (TSE:CAS) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$0.24 earnings per share for the quarter. Cascades had a return on equity of 7.24% and a net margin of 2.64%. The business had revenue of C$1.22 billion for the quarter. As a group, sell-side analysts expect that Cascades Inc. will post 1.30 EPS for the current fiscal year.

Cascades Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, September 3rd were given a dividend of $0.12 per share. The ex-dividend date was Thursday, August 20th. This represents a $0.48 annualized dividend and a yield of 2.8%. Cascades’s payout ratio is presently 38.71%.

Insider Buying and Selling at Cascades

In related news, insider Emmanuelle Migneault sold 3,298 shares of the firm’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of C$18.23, for a total value of C$60,122.54. Following the transaction, the insider directly owned 10,203 shares of the company’s stock, valued at approximately C$186,000.69. This trade represents a 24.43% decrease in their position. Also, insider Allan Hogg sold 17,684 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of C$17.50, for a total value of C$309,470.00. Following the transaction, the insider owned 112,056 shares of the company’s stock, valued at C$1,960,980. This represents a 13.63% decrease in their position. Over the last 90 days, insiders sold 27,395 shares of company stock worth $480,844. 23.78% of the stock is currently owned by 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.