Brokerages Set Cascades Inc. (TSE:CAS) Price Target at C$11.83

Shares of Cascades Inc. (TSE:CAS) have earned an average rating of “Hold” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$11.50.

Several analysts recently commented on CAS shares. Royal Bank of Canada dropped their price objective on Cascades from C$11.00 to C$10.00 in a research note on Thursday. Scotiabank cut their price objective on Cascades from C$13.50 to C$12.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 24th. Desjardins lowered their target price on Cascades from C$14.50 to C$13.00 and set a “hold” rating for the company in a research note on Thursday, March 28th. CIBC dropped their target price on shares of Cascades from C$14.00 to C$12.00 in a report on Thursday, April 11th. Finally, National Bankshares reduced their price target on shares of Cascades from C$13.50 to C$11.00 in a report on Thursday, April 11th.

Insider Transactions at Cascades

In other Cascades news, Director Mario Plourde sold 91,680 shares of Cascades stock in a transaction on Friday, May 17th. The shares were sold at an average price of C$9.80, for a total value of C$898,464.00. In other Cascades news, Director Mario Plourde sold 91,680 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of C$9.80, for a total value of C$898,464.00. Also, Senior Officer Maryse Fernet sold 13,321 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of C$9.80, for a total value of C$130,545.80. Insiders sold 221,300 shares of company stock valued at $2,134,240 in the last ninety days. 23.84% of the stock is currently owned by corporate insiders.

Cascades Trading Down 0.7 %

Shares of TSE CAS opened at C$8.96 on Monday. Cascades has a twelve month low of C$8.83 and a twelve month high of C$15.00. The stock has a market cap of C$902.36 million, a price-to-earnings ratio of -42.67, a P/E/G ratio of 0.56 and a beta of 0.07. The company has a quick ratio of 0.86, a current ratio of 1.23 and a debt-to-equity ratio of 115.94. The company’s fifty day moving average is C$9.41 and its 200-day moving average is C$10.86.

Cascades Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, June 6th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend was Thursday, June 6th. Cascades’s dividend payout ratio (DPR) is currently -228.57%.

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.