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

Key Points

• Lassonde Industries stock price crossed above its 50-day moving average of C$216.24, trading as high as C$216.90.
• Stifel Nicolaus has raised its target price for Lassonde Industries shares from C$250.00 to C$255.00 and maintains a "buy" rating.
• The company recently increased its quarterly dividend from $0.70 to $1.10 per share, reflecting an annualized yield of 2.0%.

Lassonde Industries Inc (TSE:LAS.A - Get Free Report) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$216.24 and traded as high as C$216.90. Lassonde Industries shares last traded at C$216.90, with a volume of 2,268 shares.

Analyst Ratings Changes

Separately, Stifel Nicolaus lifted their price target on Lassonde Industries from C$250.00 to C$255.00 and gave the stock a "buy" rating in a research note on Monday, August 11th.

Lassonde Industries Trading Down 0.8%

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 company has a 50-day simple moving average of C$216.21 and a 200 day simple moving average of C$206.48. The company has a market capitalization of C$650.84 million, a P/E ratio of 14.09 and a beta of -0.15.

Lassonde Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, June 13th were given a $1.10 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $4.40 annualized dividend and a yield of 2.1%. This is an increase from Lassonde Industries's previous quarterly dividend of $0.70. Lassonde Industries's dividend payout ratio (DPR) is presently 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.