Cascades (TSE:CAS) Shares Cross Above 50-Day Moving Average – Time to Sell?

Cascades Inc. (TSE:CAS)’s stock price passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of C$17.31 and traded as high as C$17.41. Cascades shares last traded at C$17.36, with a volume of 396,461 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CAS shares. Desjardins increased their target price on Cascades from C$13.00 to C$19.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Scotia raised their price target on Cascades from C$16.00 to C$20.50 and gave the stock a “sector outperform” rating in a research note on Friday, August 14th. Royal Bank Of Canada lifted their price target on Cascades from C$15.00 to C$18.00 and gave the company an “outperform” rating in a report on Monday, August 10th. TD upped their price objective on shares of Cascades from C$19.00 to C$20.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Finally, National Bank Financial upped their price objective on shares of Cascades from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Cascades has a consensus rating of “Moderate Buy” and a consensus target price of C$18.38.

Cascades Stock Performance

The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 111.08. The company has a market cap of C$1.76 billion, a PE ratio of 14.00, a P/E/G ratio of 0.56 and a beta of 1.03. The stock’s 50 day simple moving average is C$17.31 and its two-hundred day simple moving average is C$13.50.

Cascades (TSE:CAS) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$0.24 earnings per share for the quarter. Cascades had a net margin of 2.64% and a return on equity of 7.24%. The company had revenue of C$1.22 billion for the quarter. As a group, research analysts anticipate that Cascades Inc. will post 1.30 earnings per share for the current year.

Cascades Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, September 3rd were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 20th. Cascades’s dividend payout ratio (DPR) is 38.71%.

Insider Buying and Selling

In related news, insider Jérôme Nadeau sold 5,234 shares of Cascades stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of C$17.30, for a total value of C$90,548.20. Following the transaction, the insider owned 21,997 shares in the company, valued at approximately C$380,548.10. This trade represents a 19.22% decrease in their ownership of the stock. Also, insider Emmanuelle Migneault sold 3,298 shares of Cascades stock in a transaction on Monday, September 28th. The shares were sold at an average price of C$18.23, for a total value of C$60,122.54. Following the completion of the transaction, the insider owned 10,203 shares in the company, valued at C$186,000.69. The trade was a 24.43% decrease in their position. In the last ninety days, insiders have sold 27,395 shares of company stock valued at $480,844. 23.78% of the stock is currently owned by company insiders.

Cascades Company Profile

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.