Lassonde Industries (TSE:LAS.A) Stock Passes Above 50-Day Moving Average - Time to Sell?

Lassonde Industries Inc (TSE:LAS.A - Get Free Report) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$205.69 and traded as high as C$234.00. Lassonde Industries shares last traded at C$227.62, with a volume of 1,491 shares.

Wall Street Analyst Weigh In

LAS.A has been the topic of a number of research reports. Canaccord Genuity Group boosted their price objective on Lassonde Industries from C$225.00 to C$240.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Stifel Nicolaus upped their target price on Lassonde Industries from C$243.00 to C$250.00 in a research note on Monday, May 12th. National Bankshares raised their price target on Lassonde Industries from C$213.00 to C$223.00 and gave the stock a "sector perform" rating in a research note on Monday, March 31st. Finally, Desjardins upgraded Lassonde Industries from a "hold" rating to a "buy" rating and increased their price objective for the stock from C$205.00 to C$255.00 in a report on Monday, March 31st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$229.60.

Lassonde Industries Price Performance

The company has a current ratio of 1.78, a quick ratio of 0.55 and a debt-to-equity ratio of 19.88. The firm has a 50 day moving average of C$208.73 and a 200-day moving average of C$191.70. The company has a market cap of C$679.15 million, a P/E ratio of 14.70 and a beta of -0.15.

Lassonde Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, June 13th will be issued a dividend of $1.10 per share. The ex-dividend date is Wednesday, May 21st. This represents a $4.40 dividend on an annualized basis and a yield of 1.99%. This is a boost from Lassonde Industries's previous quarterly dividend of $0.70. Lassonde Industries's payout ratio is presently 26.58%.

About Lassonde Industries

Lassonde Industries Inc, together with its subsidiaries, develops, manufactures, and markets various ready-to-drink fruit and vegetable juices and drinks in Canada, the United States, and internationally. The company also offers cranberry sauces; and develops, manufactures, and markets specialty food products, including fondue broths and sauces, packaged corn-on-the-cob, and pasta sauces.