Luc Langevin Sells 9,000 Shares of Cascades Inc. (TSE:CAS) Stock

Cascades Inc. (TSE:CAS) Senior Officer Luc Langevin sold 9,000 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of C$9.82, for a total transaction of C$88,380.00.

Cascades Price Performance

TSE:CAS remained flat at C$9.84 during trading hours on Friday. The company’s stock had a trading volume of 9,841 shares, compared to its average volume of 238,169. The firm has a market cap of C$995.33 million, a PE ratio of -13.27, a P/E/G ratio of 0.56 and a beta of 0.15. The company’s 50 day moving average is C$11.65 and its 200 day moving average is C$11.26. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 121.37. Cascades Inc. has a 52 week low of C$8.83 and a 52 week high of C$13.42.

Cascades Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 20th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.48 annualized dividend and a yield of 4.88%. Cascades’s payout ratio is -64.73%.

Analysts Set New Price Targets

Several research firms have issued reports on CAS. CIBC boosted their price objective on shares of Cascades from C$12.00 to C$13.00 in a research note on Wednesday, January 15th. Royal Bank of Canada increased their target price on Cascades from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a research note on Friday, December 20th. Finally, Scotiabank upgraded shares of Cascades from a “hold” rating to a “strong-buy” rating and boosted their price objective for the stock from C$12.00 to C$15.50 in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$13.25.

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.