Cascades (TSE:CAS) Given New C$13.50 Price Target at Desjardins

Cascades (TSE:CAS) had its price target increased by Desjardins from C$10.50 to C$13.50 in a report issued on Friday,BayStreet.CA reports. Desjardins currently has a hold rating on the stock.

A number of other research firms have also weighed in on CAS. TD Securities raised Cascades from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Royal Bank Of Canada raised Cascades from a “hold” rating to a “moderate buy” rating and increased their target price for the stock from C$11.00 to C$13.00 in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$13.00.

Cascades Stock Up 1.8%

CAS traded up C$0.21 during midday trading on Friday, reaching C$11.88. The company’s stock had a trading volume of 262,524 shares, compared to its average volume of 225,997. Cascades has a 1 year low of C$8.30 and a 1 year high of C$13.42. The stock’s 50-day moving average is C$10.21 and its 200-day moving average is C$9.53. The firm has a market capitalization of C$1.20 billion, a price-to-earnings ratio of -148.50, a PEG ratio of 0.56 and a beta of 0.87. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 121.37.

Cascades Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, December 4th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, November 20th. Cascades’s dividend payout ratio is currently -600.00%.

About Cascades

Cascades Inc, along with its subsidiaries, produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company is organized into four main business segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes packaging products), and Tissue Papers.