Cascades (TSE:CAS) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Cascades Inc. (TSE:CAS) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$10.95 and traded as high as C$12.75. Cascades shares last traded at C$12.59, with a volume of 102,893 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Cascades from C$12.00 to C$13.00 and gave the stock a “sector perform” rating in a report on Friday, December 20th. Scotiabank upgraded Cascades from a “hold” rating to a “strong-buy” rating and upped their price target for the stock from C$12.00 to C$15.50 in a research note on Monday, January 27th. TD Securities lifted their price objective on Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, CIBC increased their target price on Cascades from C$12.00 to C$13.00 in a research note on Wednesday, January 15th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$13.25.

Cascades Stock Performance

The company has a debt-to-equity ratio of 121.37, a quick ratio of 0.86 and a current ratio of 1.22. The business’s fifty day moving average price is C$12.34 and its 200-day moving average price is C$10.98. The stock has a market cap of C$1.30 billion, a PE ratio of -17.32, a P/E/G ratio of 0.56 and a beta of 0.15.

Cascades Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, December 5th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend was Thursday, November 21st. Cascades’s dividend payout ratio (DPR) is presently -64.73%.

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.