Cascades (TSE:CAS) Reaches New 12-Month High – Here’s Why

Cascades Inc. (TSE:CAS) reached a new 52-week high during trading on Monday . The stock traded as high as C$13.38 and last traded at C$13.38, with a volume of 195077 shares trading hands. The stock had previously closed at C$13.08.

Analyst Upgrades and Downgrades

CAS has been the subject of a number of research reports. CIBC upped their target price on shares of Cascades from C$12.00 to C$13.00 in a report on Monday, November 10th. Royal Bank Of Canada upped their price objective on shares of Cascades from C$14.00 to C$16.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. TD Securities raised their target price on shares of Cascades from C$12.00 to C$14.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Scotiabank boosted their target price on Cascades from C$12.00 to C$13.50 in a report on Monday, November 10th. Finally, Desjardins increased their price target on Cascades from C$10.50 to C$13.50 and gave the company a “hold” rating in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Cascades presently has an average rating of “Moderate Buy” and a consensus target price of C$13.50.

Cascades Stock Up 2.1%

The stock has a market capitalization of C$1.35 billion, a price-to-earnings ratio of 66.80, a PEG ratio of 0.56 and a beta of 1.15. The company has a debt-to-equity ratio of 121.37, a current ratio of 1.22 and a quick ratio of 0.86. The business has a fifty day moving average of C$12.37 and a 200 day moving average of C$10.68.

Cascades (TSE:CAS) last posted its earnings results on Thursday, November 6th. The company reported C$0.38 earnings per share for the quarter. The firm had revenue of C$1.24 billion during the quarter. Cascades had a negative net margin of 1.62% and a negative return on equity of 4.35%. As a group, equities analysts predict that Cascades Inc. will post 1.2959309 earnings per share for the current year.

Cascades Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, December 4th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, November 20th. Cascades’s dividend payout ratio is 240.00%.

Insider Buying and Selling at Cascades

In related news, insider J�R�Me Porlier sold 4,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of C$12.49, for a total value of C$49,960.00. Following the completion of the sale, the insider directly owned 24,467 shares of the company’s stock, valued at C$305,592.83. This represents a 14.05% decrease in their position. Corporate insiders own 23.78% of the company’s stock.

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.