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

Lassonde Industries Inc (TSE:LAS.A - Get Free Report)'s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$209.62 and traded as high as C$220.00. Lassonde Industries shares last traded at C$217.57, with a volume of 367 shares.

Analyst Upgrades and Downgrades

LAS.A has been the subject of several recent analyst reports. Canaccord Genuity Group boosted their target price on Lassonde Industries from C$225.00 to C$240.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. Stifel Nicolaus lifted their price target on Lassonde Industries from C$243.00 to C$250.00 in a research note on Monday, May 12th. National Bankshares lifted 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 raised Lassonde Industries from a "hold" rating to a "buy" rating and lifted their price target for the stock from C$205.00 to C$255.00 in a research note on Monday, March 31st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$229.60.

Lassonde Industries Price Performance

The business has a fifty day simple moving average of C$211.02 and a two-hundred day simple moving average of C$193.01. 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 stock has a market cap of C$683.81 million, a PE ratio of 14.80 and a beta of -0.15.

Lassonde Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, June 13th will be paid a $1.10 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $4.40 annualized dividend and a dividend yield of 1.98%. This is an increase from Lassonde Industries's previous quarterly dividend of $0.70. Lassonde Industries's dividend payout ratio is presently 26.58%.

Lassonde Industries Company Profile

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.