Cascades (TSE:CAS – Free Report) had its target price reduced by Royal Bank of Canada from C$11.00 to C$10.00 in a research note issued to investors on Thursday morning, BayStreet.CA reports.
A number of other brokerages have also commented on CAS. CIBC cut their price target on Cascades from C$14.00 to C$12.00 in a report on Thursday, April 11th. TD Securities cut their price target on Cascades from C$12.00 to C$11.00 and set a buy rating on the stock in a report on Tuesday, April 16th. Scotiabank dropped their target price on 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. Desjardins dropped their target price on Cascades from C$14.50 to C$13.00 and set a hold rating on the stock in a report on Thursday, March 28th. Finally, National Bankshares dropped their target price on Cascades from C$13.50 to C$11.00 in a report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average price target of C$11.50.
Check Out Our Latest Stock Report on Cascades
Cascades Stock Performance
Cascades Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, June 6th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date was Thursday, June 6th. Cascades’s dividend payout ratio (DPR) is presently -228.57%.
Insiders Place Their Bets
In other Cascades 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 transaction of C$898,464.00. In other Cascades 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 transaction of C$898,464.00. Also, Senior Officer Allan Hogg sold 33,635 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of C$9.67, for a total value of C$325,250.45. Insiders have sold a total of 221,300 shares of company stock valued at $2,134,240 over the last 90 days. 23.84% of the stock is currently owned by insiders.
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.
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