Cascades (TSE:CAS) Sets New 12-Month High – Should You Buy?

Cascades Inc. (TSE:CAS)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$14.33 and last traded at C$14.22, with a volume of 94067 shares changing hands. The stock had previously closed at C$14.16.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CAS shares. TD lifted their target price on Cascades from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada dropped their price target on Cascades from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. National Bank Financial dropped their price target on Cascades from C$14.00 to C$13.00 and set a “sector perform” rating on the stock in a research note on Friday, May 8th. Desjardins reduced their price objective on Cascades from C$15.00 to C$13.00 and set a “hold” rating for the company in a research note on Monday, April 13th. Finally, Scotiabank decreased their price objective on Cascades from C$16.75 to C$14.50 and set an “outperform” rating for the company in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cascades has an average rating of “Moderate Buy” and an average price target of C$13.93.

Cascades Price Performance

The company has a debt-to-equity ratio of 113.03, a quick ratio of 0.86 and a current ratio of 1.53. The company has a 50-day simple moving average of C$11.98 and a 200-day simple moving average of C$11.85. The company has a market cap of C$1.68 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 0.56 and a beta of 1.04.

Cascades (TSE:CAS) last posted its earnings results on Thursday, August 6th. The company reported C$0.24 EPS for the quarter. The company had revenue of C$1.22 billion for the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%. As a group, research analysts predict that Cascades Inc. will post 1.2959309 earnings per share for the current year.

Cascades Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, August 20th. Cascades’s dividend payout ratio is currently 48.00%.

Insider Transactions at Cascades

In related news, insider Laurent Lemaire bought 23,302 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of C$10.52 per share, with a total value of C$245,137.04. Following the completion of the transaction, the insider owned 7,837,637 shares of the company’s stock, valued at approximately C$82,451,941.24. The trade was a 0.30% increase in their ownership of the stock. Insiders own 23.78% of the company’s stock.

About Cascades

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.