Lassonde Industries (TSE:LAS.A) Price Target Cut to C$280.00 by Analysts at Canaccord Genuity Group

Key Points

• Canaccord Genuity lowered Lassonde Industries’ price target to C$280 from C$290 while maintaining a “buy” rating, implying 22.54% upside from the prior close.
• Analyst sentiment remains positive overall: three analysts rate the stock “buy” and one rates it “hold,” resulting in a “moderate buy” consensus and an average target of C$278.
• Lassonde reported quarterly EPS of C$7.45 on revenue of C$737.69 million. Its shares closed at C$228.50, down C$1.50 during Monday trading.

Lassonde Industries (TSE:LAS.A - Get Free Report) had its price objective dropped by investment analysts at Canaccord Genuity Group from C$290.00 to C$280.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's target price would indicate a potential upside of 22.54% from the stock's previous close.

Several other research firms have also issued reports on LAS.A. Stifel Nicolaus increased their target price on Lassonde Industries from C$280.00 to C$300.00 and gave the stock a "buy" rating in a report on Monday. National Bank Financial cut their price objective on shares of Lassonde Industries from C$260.00 to C$257.00 and set a "sector perform" rating for the company in a research report on Monday. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$278.00.

Lassonde Industries Price Performance

Shares of TSE LAS.A traded down C$1.50 during midday trading on Monday, reaching C$228.50. The company's stock had a trading volume of 1,663 shares, compared to its average volume of 1,813. The company has a debt-to-equity ratio of 19.88, a quick ratio of 0.55 and a current ratio of 1.78. Lassonde Industries has a fifty-two week low of C$202.51 and a fifty-two week high of C$253.85. The business's 50 day moving average price is C$217.02 and its two-hundred day moving average price is C$223.13. The company has a market cap of C$1.56 billion, a P/E ratio of 9.63 and a beta of -0.20.

Lassonde Industries (TSE:LAS.A - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$7.45 earnings per share (EPS) for the quarter. Lassonde Industries had a return on equity of 10.05% and a net margin of 4.31%.The business had revenue of C$737.69 million for the quarter. On average, analysts forecast that Lassonde Industries will post 18.9924731 EPS for the current fiscal year.

About Lassonde Industries

Lassonde Industries Inc is engaged in the development, manufacturing, and marketing of ready-to-drink fruit and vegetable juices and drinks. It also acts as a producer of store brand shelf-stable fruit juices and drinks in the United States and a major producer of cranberry sauces. The company operates through a single segment being the development, manufacturing, and marketing of a wide range of ready-to-drink juices and drinks; frozen juice concentrates; and specialty food products; and the importation, packaging, and marketing of selected wines from several countries of origin.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source