Analysts Set Cascades Inc. (TSE:CAS) Target Price at C$11.83

Cascades Inc. (TSE:CASGet Free Report) has been given an average rating of “Hold” by the six brokerages that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$11.83.

Several brokerages have issued reports on CAS. TD Securities cut their price objective on Cascades from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. National Bankshares cut their price objective on Cascades from C$13.50 to C$11.00 in a research note on Thursday, April 11th. Royal Bank of Canada upped their target price on Cascades from C$11.00 to C$12.00 in a report on Friday, May 10th. CIBC lowered their target price on Cascades from C$14.00 to C$12.00 in a report on Thursday, April 11th. Finally, Desjardins lowered their target price on Cascades from C$14.50 to C$13.00 and set a “hold” rating for the company in a report on Thursday, March 28th.

Check Out Our Latest Report on Cascades

Cascades Trading Up 0.2 %

Shares of TSE CAS opened at C$8.98 on Thursday. The stock’s 50 day moving average price is C$9.49 and its two-hundred day moving average price is C$11.27. Cascades has a 52-week low of C$8.86 and a 52-week high of C$15.00. The stock has a market capitalization of C$904.38 million, a P/E ratio of -42.76, a PEG ratio of 0.56 and a beta of 0.07. The company has a quick ratio of 0.86, a current ratio of 1.23 and a debt-to-equity ratio of 115.94.

Cascades Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, June 6th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend was Thursday, June 6th. Cascades’s dividend payout ratio (DPR) is -228.57%.

Insider Buying and Selling

In related news, Director Mario Plourde sold 91,680 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of C$9.80, for a total value of C$898,464.00. In related news, Director Mario Plourde sold 91,680 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of C$9.80, for a total value of C$898,464.00. Also, Director Alain Lemaire sold 48,033 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of C$9.49, for a total value of C$455,833.17. Insiders sold 221,300 shares of company stock valued at $2,134,240 in the last three months. 23.84% of the stock is currently owned by corporate insiders.

About Cascades

(Get Free Report

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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Analyst Recommendations for Cascades (TSE:CAS)

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