Lassonde Industries (TSE:LAS.A) Share Price Passes Above 50 Day Moving Average - Here's What Happened

Key Points

• Shares of Lassonde Industries crossed above its 50‑day moving average on Thursday, trading as high as C$232.78 versus a 50‑day MA of C$230.72 and last at C$230.21 on volume of 2,846 shares.
• Several brokers raised targets—National Bank Financial to C$258, Desjardins to C$275 and Stifel to C$280—leaving an average analyst rating of "Moderate Buy" and an average price target of C$271.00.
• Fundamentals and shareholder returns: market cap C$1.57B and P/E 10.49 with latest quarterly EPS of C$7.52 on revenue of C$768.09M; the company paid a quarterly dividend of C$1.25 (C$5.00 annualized) for a 2.2% yield and a 20.05% payout ratio.

Lassonde Industries Inc (TSE:LAS.A - Get Free Report) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$230.72 and traded as high as C$232.78. Lassonde Industries shares last traded at C$230.21, with a volume of 2,846 shares changing hands.

Analyst Ratings Changes

Several brokerages have commented on LAS.A. National Bank Financial raised their price target on shares of Lassonde Industries from C$247.00 to C$258.00 and gave the company a "sector perform" rating in a report on Friday, March 6th. Desjardins boosted their target price on Lassonde Industries from C$270.00 to C$275.00 and gave the stock a "buy" rating in a research report on Monday, March 30th. Finally, Stifel Nicolaus upped their price objective on shares of Lassonde Industries from C$265.00 to C$280.00 and gave the stock a "buy" rating in a research report on Monday, March 30th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Lassonde Industries presently has an average rating of "Moderate Buy" and an average price target of C$271.00.

Lassonde Industries Stock Down 0.2%

The company has a debt-to-equity ratio of 19.88, a current ratio of 1.78 and a quick ratio of 0.55. The company has a market capitalization of C$1.57 billion, a P/E ratio of 10.49 and a beta of -0.40. The company has a 50 day moving average of C$230.72 and a 200-day moving average of C$223.21.

Lassonde Industries (TSE:LAS.A - Get Free Report) last released its quarterly earnings results on Thursday, March 26th. The company reported C$7.52 earnings per share (EPS) for the quarter. The company had revenue of C$768.09 million during the quarter. Lassonde Industries had a net margin of 4.31% and a return on equity of 10.05%. As a group, equities analysts anticipate that Lassonde Industries Inc will post 18.9924731 EPS for the current year.

Lassonde Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, March 13th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, February 20th. Lassonde Industries's payout ratio is currently 20.05%.

Lassonde Industries Company Profile

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.

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