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

Cascades Inc. (TSE:CAS) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$14.22 and last traded at C$14.20, with a volume of 354188 shares traded. The stock had previously closed at C$13.73.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Desjardins dropped their price objective on shares of Cascades from C$15.00 to C$13.00 and set a “hold” rating for the company in a report on Monday, April 13th. National Bank Financial reduced their target price on shares of Cascades from C$14.00 to C$13.00 and set a “sector perform” rating on the stock in a report on Friday, May 8th. Royal Bank Of Canada decreased their price target on shares of Cascades from C$15.00 to C$14.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Canadian Imperial Bank of Commerce upgraded shares of Cascades from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, Scotiabank cut their price objective on Cascades from C$16.75 to C$14.50 and set an “outperform” rating on the stock in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cascades has a consensus rating of “Moderate Buy” and a consensus target price of C$13.93.

Cascades Stock Up 3.1%

The company has a current ratio of 1.53, a quick ratio of 0.86 and a debt-to-equity ratio of 113.03. The company has a market cap of C$1.43 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.56 and a beta of 1.03. The firm’s fifty day simple moving average is C$11.42 and its 200 day simple moving average is C$11.81.

Cascades (TSE:CAS) last announced its quarterly earnings data on Thursday, May 7th. The company reported C$0.07 EPS for the quarter. Cascades had a net margin of 2.15% and a return on equity of 5.95%. The company had revenue of C$1.12 billion for the quarter. Sell-side analysts predict that Cascades Inc. will post 1.2959309 earnings per share for the current year.

Cascades Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, June 4th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, May 21st. Cascades’s dividend payout ratio is 48.00%.

Insiders Place Their Bets

In other Cascades news, insider Laurent Lemaire purchased 23,302 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were bought at an average cost of C$10.52 per share, for a total transaction of C$245,137.04. Following the completion of the purchase, the insider directly owned 7,837,637 shares in the company, valued at approximately C$82,451,941.24. This represents a 0.30% increase in their ownership of the stock. 23.78% of the stock is currently owned by corporate insiders.

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.