Cascades (TSE:CAS) Sets New 1-Year Low at $9.05

Shares of Cascades Inc. (TSE:CAS) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$9.05 and last traded at C$9.07, with a volume of 83671 shares trading hands. The stock had previously closed at C$9.29.

Analyst Upgrades and Downgrades

CAS has been the topic of several research reports. Desjardins cut their price objective on shares of Cascades from C$14.50 to C$13.00 and set a “hold” rating on the stock in a report on Thursday, March 28th. National Bankshares cut their price objective on shares of Cascades from C$13.50 to C$11.00 in a report on Thursday, April 11th. TD Securities cut their price objective on shares of Cascades from C$12.00 to C$11.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. CIBC cut their price target on shares of Cascades from C$14.00 to C$12.00 in a report on Thursday, April 11th. Finally, Scotiabank cut their price target on shares of Cascades from C$13.50 to C$12.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Cascades currently has a consensus rating of “Hold” and a consensus target price of C$11.83.

Cascades Stock Down 1.0 %

The firm has a market capitalization of C$911.43 million, a PE ratio of -43.10, a price-to-earnings-growth ratio of 0.56 and a beta of 0.07. The company’s fifty day simple moving average is C$9.53 and its 200-day simple moving average is C$11.34. The company has a debt-to-equity ratio of 115.94, a current ratio of 1.23 and a quick ratio of 0.86.

Cascades Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, June 6th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.48 annualized dividend and a dividend yield of 5.30%. Cascades’s dividend payout ratio is currently -228.57%.

Insider Activity

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

About Cascades

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.