Scotiabank Trims Cascades (TSE:CAS) Target Price to C$11.00

Cascades (TSE:CAS) had its target price cut by Scotiabank from C$12.00 to C$11.00 in a report issued on Monday morning, BayStreet.CA reports. They currently have a sector perform rating on the stock.

CAS has been the topic of several other research reports. TD Securities lowered their price target on Cascades from C$12.00 to C$11.00 and set a buy rating on the stock in a research report on Tuesday, April 16th. Royal Bank of Canada lowered their target price on shares of Cascades from C$11.00 to C$10.00 in a report on Thursday, July 11th. Finally, CIBC decreased their price objective on shares of Cascades from C$11.00 to C$10.50 and set a neutral rating for the company in a research report on Monday. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of C$11.08.

Cascades Price Performance

TSE:CAS opened at C$9.25 on Monday. Cascades has a 52-week low of C$8.83 and a 52-week high of C$15.00. The company has a market cap of C$931.57 million, a P/E ratio of -44.05, a P/E/G ratio of 0.56 and a beta of 0.07. The company has a debt-to-equity ratio of 115.94, a quick ratio of 0.86 and a current ratio of 1.23. The stock’s 50-day simple moving average is C$9.26 and its 200 day simple moving average is C$10.17.

Cascades Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, September 5th 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 5.19%. The ex-dividend date of this dividend is Thursday, September 5th. Cascades’s dividend payout ratio is presently -228.57%.

Insider Buying and Selling

In other Cascades news, Director Mario Plourde sold 91,680 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of C$9.80, for a total transaction of C$898,464.00. In other Cascades news, Director Mario Plourde sold 91,680 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of C$9.80, for a total transaction of C$898,464.00. Also, Senior Officer Maryse Fernet sold 13,321 shares of Cascades stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of C$9.80, for a total value of C$130,545.80. In the last 90 days, insiders sold 221,300 shares of company stock valued at $2,134,240. Company insiders own 23.84% of the company’s stock.

Cascades Company Profile

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.