Insider Buying: Cascades (TSE:CAS) Insider Buys C$245,137.04 in Stock

Cascades Inc. (TSE:CAS) insider Laurent Lemaire acquired 23,302 shares of the stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of C$10.52 per share, for a total transaction of C$245,137.04. Following the transaction, the insider directly owned 7,837,637 shares in the company, valued at approximately C$82,451,941.24. This trade represents a 0.30% increase in their ownership of the stock.

Cascades Stock Down 0.5%

CAS stock opened at C$10.44 on Friday. The company has a debt-to-equity ratio of 113.03, a current ratio of 1.53 and a quick ratio of 0.86. The stock has a market capitalization of C$1.06 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 0.56 and a beta of 1.07. The business’s fifty day moving average price is C$11.09 and its two-hundred day moving average price is C$12.09. Cascades Inc. has a fifty-two week low of C$8.55 and a fifty-two week high of C$14.20.

Cascades (TSE:CAS) last posted its quarterly earnings data on Thursday, May 7th. The company reported C$0.07 earnings per share for the quarter. The firm had revenue of C$1.13 billion for the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%. On average, equities analysts anticipate that Cascades Inc. will post 1.2959309 earnings per share for the current year.

Cascades Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, May 21st. This represents a $0.48 annualized dividend and a yield of 4.6%. Cascades’s dividend payout ratio (DPR) is presently 48.00%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CAS shares. TD lowered their price objective on Cascades from C$14.00 to C$13.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. National Bank Financial lowered their price objective on Cascades from C$14.00 to C$13.00 and set a “sector perform” rating on the stock in a research report on Friday, May 8th. Desjardins lowered their price objective on Cascades from C$15.00 to C$13.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. TD Securities reduced their target price on Cascades from C$16.00 to C$15.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Scotiabank reduced their target price on Cascades from C$16.75 to C$14.50 and set an “outperform” rating on the stock in a report on Monday, April 13th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$13.64.

About Cascades

Cascades Inc, along with its subsidiaries, produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company is organized into four main business segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes packaging products), and Tissue Papers. The business activity of the company functions in Canada, the United States, Italy, and other countries. Its customer base includes food processing companies, the maintenance industry, accommodations, and housing industry, micro-businesses, and boutiques.