Cascades Inc. (TSE:CAS) Stock Has Average Price Target of C$18.38

Shares of Cascades Inc. (TSE:CAS) have earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$18.38.

CAS has been the topic of several recent analyst reports. Desjardins boosted their price target on Cascades from C$13.00 to C$19.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Scotia raised their price target on shares of Cascades from C$16.00 to C$20.50 and gave the stock a “sector outperform” rating in a report on Friday, August 14th. TD lifted their price target on shares of Cascades from C$19.00 to C$20.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Canadian Imperial Bank of Commerce increased their price objective on shares of Cascades from C$17.50 to C$23.00 in a research report on Wednesday, September 30th. Finally, National Bank Financial raised their target price on Cascades from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a research note on Monday, August 10th.

Insider Transactions at Cascades

In other news, insider Jérôme Nadeau sold 5,234 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of C$17.30, for a total transaction of C$90,548.20. Following the transaction, the insider directly owned 21,997 shares of the company’s stock, valued at C$380,548.10. This represents a 19.22% decrease in their ownership of the stock. Also, insider Allan Hogg sold 17,684 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of C$17.50, for a total transaction of C$309,470.00. Following the completion of the transaction, the insider directly owned 112,056 shares in the company, valued at C$1,960,980. This trade represents a 13.63% decrease in their ownership of the stock. Insiders have sold 27,395 shares of company stock valued at $480,844 over the last ninety days. 23.78% of the stock is owned by company insiders.

Cascades Stock Performance

Shares of CAS opened at C$17.59 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 0.86 and a debt-to-equity ratio of 111.08. The stock has a market capitalization of C$1.78 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 0.56 and a beta of 1.03. The firm’s fifty day simple moving average is C$17.34 and its two-hundred day simple moving average is C$13.56. Cascades has a 12 month low of C$10.25 and a 12 month high of C$18.86.

Cascades (TSE:CAS) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$0.24 earnings per share for the quarter. The firm had revenue of C$1.22 billion during the quarter. Cascades had a return on equity of 7.24% and a net margin of 2.64%. As a group, analysts predict that Cascades will post 1.30 EPS for the current year.

Cascades Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, September 3rd were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 2.7%. Cascades’s payout ratio is currently 38.71%.

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.