Cascades Inc (CAS) Stock Price Up 5.7%

Shares of Cascades Inc (TSE:CAS) rose 5.7% during trading on Monday . The stock traded as high as C$14.95 and last traded at C$14.91. Approximately 269,851 shares traded hands during trading, an increase of 8% from the average daily volume of 251,010 shares. The stock had previously closed at C$14.10.

CAS has been the topic of several analyst reports. Ci Capital raised their target price on Cascades from C$17.00 to C$19.00 in a report on Tuesday, July 4th. Scotiabank reaffirmed a “sector perform” rating and set a C$17.00 target price on shares of Cascades in a report on Sunday, July 30th. Desjardins dropped their target price on Cascades from C$17.50 to C$16.00 in a report on Friday, August 11th. Royal Bank Of Canada dropped their target price on Cascades from C$17.00 to C$16.00 and set a “sector perform” rating on the stock in a report on Friday, August 11th. Finally, TD Securities dropped their target price on Cascades from C$18.00 to C$17.00 and set a “hold” rating on the stock in a report on Friday, August 11th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Cascades has a consensus rating of “Buy” and an average target price of C$16.63.

The firm has a market cap of $1.47 billion and a P/E ratio of 2.98. The stock has a 50-day moving average price of $14.78 and a 200 day moving average price of $15.37.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, September 1st were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Monday, August 21st.

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Cascades Company Profile

Cascades Inc (Cascades) is a Canada-based company that produces, converts and markets packaging and tissue products consisting of recycled fibers. The Company operates through four segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes the Company’s Packaging Products) and Tissue Papers.

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