Shares of Cascades Inc. (TSE:CAS – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$14.22 and last traded at C$14.20, with a volume of 354188 shares. The stock had previously closed at C$13.73.
Analyst Upgrades and Downgrades
CAS has been the topic of a number of research reports. National Bank Financial cut their price target on 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 dropped their target price on Cascades from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Canadian Imperial Bank of Commerce upgraded Cascades from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Scotiabank reduced their price target on Cascades from C$16.75 to C$14.50 and set an “outperform” rating for the company in a research report on Monday, April 13th. Finally, TD raised their price target on shares of Cascades from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$13.93.
Check Out Our Latest Analysis on CAS
Cascades Stock Performance
Cascades (TSE:CAS – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported C$0.07 earnings per share (EPS) for the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%.The business had revenue of C$1.12 billion for the quarter. Analysts expect that Cascades Inc. will post 1.2959309 earnings per share for the current year.
Cascades Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, June 4th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.48 annualized dividend and a dividend yield of 3.5%. Cascades’s payout ratio is 48.00%.
Insider Activity
In related news, insider Laurent Lemaire acquired 23,302 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were bought at an average price of C$10.52 per share, for a total transaction of C$245,137.04. Following the purchase, the insider directly owned 7,837,637 shares in the company, valued at approximately C$82,451,941.24. This trade represents a 0.30% increase in their position. 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.
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