CIBC Cuts Cascades (TSE:CAS) Price Target to C$10.50

Cascades (TSE:CAS) had its target price reduced by CIBC from C$11.00 to C$10.50 in a report issued on Monday morning, BayStreet.CA reports. They currently have a neutral rating on the stock.

Several other analysts have also issued reports on CAS. Scotiabank reduced their price objective 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. Royal Bank of Canada dropped their price target on shares of Cascades from C$11.00 to C$10.00 in a research report on Thursday, July 11th. Finally, TD Securities decreased 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. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Cascades presently has an average rating of Hold and a consensus price target of C$11.08.

Cascades Price Performance

Cascades has a one year low of C$8.83 and a one year high of C$15.00. 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 firm has a market capitalization of C$934.59 million, a PE ratio of -44.33, a price-to-earnings-growth ratio of 0.56 and a beta of 0.07. The stock’s 50-day simple moving average is C$9.26 and its two-hundred day simple moving average is C$10.17.

Cascades Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, September 5th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.48 annualized dividend and a dividend yield of ∞. Cascades’s dividend payout ratio is presently -228.57%.

Insider Activity at Cascades

In other Cascades news, Director Alain Lemaire sold 48,033 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of C$9.49, for a total transaction of C$455,833.17. In related news, Director Alain Lemaire sold 48,033 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of C$9.49, for a total transaction of C$455,833.17. Also, Senior Officer Robert F. Hall sold 34,631 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of C$9.36, for a total value of C$324,146.16. Over the last quarter, insiders sold 129,620 shares of company stock worth $1,235,776. Corporate 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.