Cascades (TSE:CAS) Stock Passes Above 200 Day Moving Average – Time to Sell?

Cascades Inc. (TSE:CAS)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$9.74 and traded as high as C$11.24. Cascades shares last traded at C$11.08, with a volume of 92,573 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. CIBC decreased their target price on Cascades from C$11.00 to C$10.50 and set a “neutral” rating for the company in a research report on Monday, August 12th. TD Securities lifted their price objective on Cascades from C$12.00 to C$14.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Scotiabank decreased their price objective on Cascades from C$12.00 to C$11.00 and set a “sector perform” rating for the company in a report on Monday, August 12th. Finally, Royal Bank of Canada lifted their price objective on Cascades from C$11.00 to C$12.00 in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Cascades presently has a consensus rating of “Hold” and a consensus price target of C$11.92.

Cascades Trading Up 0.2 %

The firm has a 50 day simple moving average of C$10.40 and a 200 day simple moving average of C$9.74. The company has a debt-to-equity ratio of 119.55, a quick ratio of 0.86 and a current ratio of 1.23. The firm has a market cap of C$1.12 billion, a P/E ratio of -26.38, a P/E/G ratio of 0.56 and a beta of 0.15.

Cascades Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, December 5th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.48 annualized dividend and a yield of 4.33%. Cascades’s dividend payout ratio is currently -114.29%.

Insiders Place Their Bets

In other news, Senior Officer Luc Langevin sold 3,000 shares of Cascades stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of C$11.30, for a total transaction of C$33,900.00. 23.78% of the stock is owned by corporate insiders.

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.