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

Cascades Inc. (TSE:CAS) has earned a consensus recommendation of “Hold” from the six analysts that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$11.83.

Several analysts have recently issued reports on CAS shares. TD Securities reduced their target price on Cascades from C$12.00 to C$11.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Royal Bank of Canada increased their target price on Cascades from C$11.00 to C$12.00 in a report on Friday, May 10th. CIBC reduced their target price on Cascades from C$14.00 to C$12.00 in a report on Thursday, April 11th. Desjardins reduced their target price on 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, National Bankshares reduced their price objective on Cascades from C$13.50 to C$11.00 in a research note on Thursday, April 11th.

Insider Activity

In other news, Director Alain Lemaire sold 48,033 shares of Cascades stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of C$9.49, for a total transaction of C$455,833.17. In other news, Senior Officer Robert F. Hall sold 34,631 shares of Cascades stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of C$9.36, for a total transaction of C$324,146.16. Also, Director Alain Lemaire sold 48,033 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of C$9.49, for a total value of C$455,833.17. Over the last three months, insiders have sold 221,300 shares of company stock valued at $2,134,240. 23.84% of the stock is currently owned by corporate insiders.

Cascades Stock Performance

CAS opened at C$9.10 on Thursday. The firm has a market cap of C$916.46 million, a P/E ratio of -43.33, a price-to-earnings-growth ratio of 0.56 and a beta of 0.07. Cascades has a 52-week low of C$8.88 and a 52-week high of C$15.00. The company has a debt-to-equity ratio of 115.94, a quick ratio of 0.86 and a current ratio of 1.23. The business’s fifty day moving average is C$9.52 and its 200-day moving average is C$11.31.

Cascades Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, June 6th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 5.27%. The ex-dividend date was Thursday, June 6th. Cascades’s dividend payout ratio (DPR) is presently -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.