Cascades Inc. (TSE:CAS) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Cascades Inc. (TSE:CAS) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$18.38.

Several brokerages have weighed in on CAS. Canadian Imperial Bank of Commerce lifted their price objective on Cascades from C$17.50 to C$23.00 in a report on Wednesday, September 30th. Scotia upped their target price on Cascades from C$16.00 to C$20.50 and gave the company a “sector outperform” rating in a research report on Friday, August 14th. TD upped their target price on Cascades from C$19.00 to C$20.00 and gave the company a “buy” rating in a research report on Wednesday. Desjardins increased their target price on Cascades from C$13.00 to C$19.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Finally, National Bank Financial increased their target price on Cascades from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a report on Monday, August 10th.

Cascades Price Performance

Shares of Cascades stock opened at C$17.70 on Friday. Cascades has a twelve month low of C$9.55 and a twelve month high of C$18.86. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 111.08. The company has a 50-day simple moving average of C$17.26 and a two-hundred day simple moving average of C$13.46. The stock has a market capitalization of C$1.80 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 0.56 and a beta of 1.03.

Cascades (TSE:CAS) last announced its earnings results on Thursday, August 6th. The company reported C$0.24 EPS for the quarter. Cascades had a net margin of 2.64% and a return on equity of 7.24%. The company had revenue of C$1.22 billion for the quarter. Analysts forecast that Cascades will post 1.30 EPS for the current year.

Cascades Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, September 3rd were given 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 dividend payout ratio (DPR) is currently 38.71%.

Insiders Place Their Bets

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

Cascades Company Profile

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.