Cascades (TSE:CAS – Free Report) had its price target decreased by Royal Bank of Canada from C$11.00 to C$10.00 in a report issued on Thursday, BayStreet.CA reports.
Other research analysts have also recently issued reports about the stock. National Bankshares dropped their target price on shares of Cascades from C$13.50 to C$11.00 in a report on Thursday, April 11th. Scotiabank dropped their target price on shares of 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. TD Securities dropped their target price on shares of Cascades from C$12.00 to C$11.00 and set a buy rating on the stock in a report on Tuesday, April 16th. Desjardins dropped their target price on shares of Cascades from C$14.50 to C$13.00 and set a hold rating on the stock in a report on Thursday, March 28th. Finally, CIBC dropped their target price on shares of Cascades from C$14.00 to C$12.00 in a report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of C$11.50.
Read Our Latest Stock Report on CAS
Cascades Trading Down 0.7 %
Cascades Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, June 6th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date was Thursday, June 6th. Cascades’s dividend payout ratio is currently -228.57%.
Insider Activity
In other news, Senior Officer Robert F. Hall sold 34,631 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of C$9.36, for a total value of C$324,146.16. In related news, Senior Officer Robert F. Hall sold 34,631 shares of Cascades stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of C$9.36, for a total value of C$324,146.16. Also, Director Mario Plourde sold 91,680 shares of Cascades 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 transaction of C$898,464.00. In the last ninety days, insiders have sold 221,300 shares of company stock worth $2,134,240. Corporate insiders own 23.84% of the company’s stock.
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.
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