Cascades Inc. (TSE:CAS) Director Acquires C$52,140.00 in Stock

Cascades Inc. (TSE:CAS) Director Nelson Gentiletti acquired 6,000 shares of the firm’s stock in a transaction dated Thursday, May 15th. The shares were purchased at an average price of C$8.69 per share, with a total value of C$52,140.00.

Cascades Stock Up 1.8%

Shares of TSE CAS opened at C$8.85 on Friday. The firm has a market cap of C$895.19 million, a PE ratio of -11.94, a P/E/G ratio of 0.56 and a beta of 0.15. Cascades Inc. has a 12-month low of C$8.30 and a 12-month high of C$13.42. The company’s fifty day simple moving average is C$9.32 and its 200 day simple moving average is C$10.99. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 121.37.

Cascades Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, June 5th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend is Thursday, May 22nd. Cascades’s dividend payout ratio is presently -64.73%.

Wall Street Analyst Weigh In

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

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.