Cascades (TSE:CAS) Price Target Raised to C$13.00

Cascades (TSE:CAS) had its price target raised by Royal Bank of Canada from C$12.00 to C$13.00 in a report published on Friday,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Separately, TD Securities upped their price target on Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$12.08.

Cascades Stock Performance

Shares of CAS opened at C$11.47 on Friday. The company has a debt-to-equity ratio of 119.55, a current ratio of 1.23 and a quick ratio of 0.86. The firm’s 50 day moving average is C$11.29 and its 200-day moving average is C$10.09. Cascades has a 12-month low of C$8.83 and a 12-month high of C$15.00. The stock has a market capitalization of C$1.16 billion, a P/E ratio of -27.31, a P/E/G ratio of 0.56 and a beta of 0.15.

Cascades Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.18%. Cascades’s dividend payout ratio is currently -114.29%.

Insider Activity at Cascades

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