TD Securities Issues Pessimistic Forecast for Cascades (TSE:CAS) Stock Price

Cascades (TSE:CAS) had its price objective lowered by TD Securities from C$16.00 to C$12.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other research firms have also weighed in on CAS. CIBC lifted their price objective on shares of Cascades from C$12.00 to C$13.00 in a research report on Wednesday, January 15th. Scotiabank upgraded shares of Cascades from a “hold” rating to a “strong-buy” rating and boosted their price target for the stock from C$12.00 to C$15.50 in a research note on Monday, January 27th. Finally, Royal Bank of Canada increased their price target on shares of Cascades from C$12.00 to C$13.00 and gave the stock a “sector perform” rating in a report on Friday, December 20th.

Cascades Stock Down 1.3 %

CAS opened at C$8.96 on Thursday. Cascades has a 52 week low of C$8.83 and a 52 week high of C$13.42. The business has a 50 day moving average price of C$10.56 and a two-hundred day moving average price of C$11.24. 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 company has a market cap of C$906.31 million, a PE ratio of -12.08, a P/E/G ratio of 0.56 and a beta of 0.15.

Cascades Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 20th were issued a $0.12 dividend. The ex-dividend date was Thursday, March 6th. This represents a $0.48 dividend on an annualized basis and a yield of 5.36%. Cascades’s dividend payout ratio (DPR) is presently -64.73%.

Insider Transactions at Cascades

In related news, Senior Officer Luc Langevin sold 9,000 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of C$9.82, for a total value of C$88,380.00. Corporate insiders own 23.78% of the company’s stock.

About Cascades

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.