Cascades (TSE:CAS) Stock Passes Above 200-Day Moving Average – Should You Sell?

Cascades Inc. (TSE:CAS) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$11.15 and traded as high as C$11.24. Cascades shares last traded at C$10.86, with a volume of 321,086 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently commented on CAS. TD Securities boosted their price target on Cascades from C$12.00 to C$14.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada boosted their price target on Cascades from C$12.00 to C$13.00 and gave the stock a “sector perform” rating in a research note on Friday, December 20th. Scotiabank upgraded Cascades from a “hold” rating to a “strong-buy” rating and boosted their price target for the stock from C$12.00 to C$15.50 in a research note on Monday, January 27th. Finally, CIBC boosted their price target on Cascades from C$12.00 to C$13.00 in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$13.25.

Cascades Price Performance

The company has a 50 day simple moving average of C$12.32 and a 200-day simple moving average of C$11.15. The stock has a market cap of C$1.10 billion, a price-to-earnings ratio of -14.65, a PEG ratio of 0.56 and a beta of 0.15. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.42%. The ex-dividend date is Thursday, March 6th. Cascades’s payout ratio is currently -64.73%.

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.