Cascades Inc (TSE:CAS) Director Alain Lemaire sold 34,656 shares of the stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of C$11.81, for a total transaction of C$409,287.36. Following the completion of the sale, the director now directly owns 396,460 shares of the company’s stock, valued at approximately C$4,682,192.60.
CAS traded up C$0.31 during trading hours on Wednesday, reaching C$12.20. 271,083 shares of the stock traded hands, compared to its average volume of 253,536. The firm’s fifty day simple moving average is C$11.49 and its two-hundred day simple moving average is C$11.80. The company has a market cap of $1.10 billion and a price-to-earnings ratio of 16.52. Cascades Inc has a fifty-two week low of C$7.55 and a fifty-two week high of C$13.44. The company has a debt-to-equity ratio of 127.13, a current ratio of 1.34 and a quick ratio of 0.76.
Cascades (TSE:CAS) last released its quarterly earnings results on Thursday, February 27th. The company reported C$0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.18 by C$0.12. The firm had revenue of C$1.23 billion for the quarter, compared to analyst estimates of C$1.21 billion. On average, research analysts predict that Cascades Inc will post 1.1343731 earnings per share for the current year.
Several equities research analysts have recently issued reports on the stock. National Bank Financial increased their price objective on shares of Cascades from C$13.50 to C$14.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. TD Securities dropped their price objective on shares of Cascades from C$13.00 to C$12.50 and set a “hold” rating for the company in a research report on Friday, February 28th. Finally, CIBC raised shares of Cascades from a “neutral” rating to an “outperform” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of C$14.10.
Cascades Inc produces, converts, and markets packaging and tissue products in Canada, the United States, and internationally. The company operates through four segments: Containerboard, Boxboard Europe, Specialty Products, and Tissue Papers. It offers containerboards, and coated recycled and virgin boxboards, as well as converts corrugated products.
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