Luc Langevin Sells 9,000 Shares of Cascades Inc. (TSE:CAS) Stock

Cascades Inc. (TSE:CAS) Senior Officer Luc Langevin sold 9,000 shares of the business’s 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.

Cascades Trading Down 1.2 %

Shares of CAS opened at C$9.72 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 121.37. The stock has a market cap of C$983.19 million, a PE ratio of -13.11, a PEG ratio of 0.56 and a beta of 0.15. Cascades Inc. has a 1 year low of C$8.83 and a 1 year high of C$13.42. The stock has a 50 day simple moving average of C$11.59 and a 200-day simple moving average of C$11.27.

Cascades Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 20th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.48 annualized dividend and a yield of 4.94%. Cascades’s dividend payout ratio is currently -64.73%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CAS shares. CIBC boosted their price objective on Cascades from C$12.00 to C$13.00 in a research report on Wednesday, January 15th. Royal Bank of Canada lifted 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 research note on Friday, December 20th. Finally, Scotiabank upgraded shares of Cascades from a “hold” rating to a “strong-buy” rating and increased their price objective for the company from C$12.00 to C$15.50 in a research note on Monday, January 27th.

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.