Cascades (TSE:CAS) Sets New 1-Year Low – Here’s What Happened

Cascades Inc. (TSE:CAS)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$8.30 and last traded at C$8.65, with a volume of 918857 shares changing hands. The stock had previously closed at C$8.35.

Analyst Ratings Changes

Several research firms have weighed in on CAS. Scotiabank raised Cascades from a “hold” rating to a “strong-buy” rating and boosted their price objective for the stock from C$12.00 to C$15.50 in a research report on Monday, January 27th. CIBC dropped their price target on Cascades from C$13.00 to C$10.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. TD Securities cut Cascades from a “buy” rating to a “hold” rating and dropped their price target for the company from C$12.00 to C$9.50 in a research report on Friday, May 9th. Royal Bank of Canada decreased their price objective on Cascades from C$13.00 to C$11.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 22nd. Finally, National Bankshares decreased their price objective on Cascades from C$14.00 to C$11.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cascades has a consensus rating of “Hold” and an average target price of C$11.40.

Cascades Price Performance

The firm has a market capitalization of C$879.00 million, a P/E ratio of -11.72, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15. The company has a debt-to-equity ratio of 121.37, a quick ratio of 0.86 and a current ratio of 1.22. The business has a 50 day simple moving average of C$9.35 and a two-hundred day simple moving average of C$11.00.

Cascades Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, June 5th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.48 dividend on an annualized basis and a yield of 5.52%. Cascades’s dividend payout ratio is currently -64.73%.

Insiders Place Their Bets

In other news, Director Nelson Gentiletti acquired 6,000 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was purchased at an average cost of C$8.69 per share, for a total transaction of C$52,140.00. Also, Senior Officer Luc Langevin sold 9,000 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of C$9.82, for a total value of C$88,380.00. Corporate insiders own 23.78% 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.