Cascades Inc. (TSE:CAS) Given Average Rating of “Hold” by Brokerages

Cascades Inc. (TSE:CAS) has received an average rating of “Hold” from the six analysts that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is C$11.92.

CAS has been the subject of a number of research reports. Royal Bank of Canada upped their target price on shares of Cascades from C$11.00 to C$12.00 in a report on Friday, November 8th. CIBC dropped their price objective on shares of Cascades from C$11.00 to C$10.50 and set a “neutral” rating for the company in a report on Monday, August 12th. TD Securities upped their price objective on shares of Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Scotiabank dropped their price objective on shares of Cascades from C$12.00 to C$11.00 and set a “sector perform” rating for the company in a report on Monday, August 12th.

Cascades Price Performance

Cascades stock opened at C$12.61 on Thursday. Cascades has a 52-week low of C$8.83 and a 52-week high of C$15.00. The firm has a market capitalization of C$1.27 billion, a price-to-earnings ratio of -30.02, a PEG ratio of 0.56 and a beta of 0.15. The company has a fifty day simple moving average of C$10.87 and a 200-day simple moving average of C$9.90. The company has a quick ratio of 0.86, a current ratio of 1.23 and a debt-to-equity ratio of 119.55.

Cascades Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, December 5th will be given a $0.12 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.48 dividend on an annualized basis and a yield of 3.81%. Cascades’s payout ratio is currently -114.29%.

Insider Buying and Selling at Cascades

In other Cascades news, Senior Officer Luc Langevin sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of C$11.30, for a total value of C$33,900.00. 23.78% of the stock is currently owned by corporate insiders.

Cascades Company Profile

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.