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

Lassonde Industries Inc (TSE:LAS.A - Get Free Report)'s share price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$214.57 and traded as high as C$225.00. Lassonde Industries shares last traded at C$221.00, with a volume of 2,858 shares trading hands.

Wall Street Analyst Weigh In

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

Lassonde Industries Stock Performance

The company has a debt-to-equity ratio of 19.88, a quick ratio of 0.55 and a current ratio of 1.78. The firm has a 50 day moving average price of C$215.12 and a two-hundred day moving average price of C$197.41. The company has a market capitalization of C$666.19 million, a P/E ratio of 14.42 and a beta of -0.15.

Lassonde Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, June 13th were paid a $1.10 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.03%. This is a boost from Lassonde Industries's previous quarterly dividend of $0.70. Lassonde Industries's payout ratio is 26.58%.

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.