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

Key Points

• Lassonde Industries' stock price has recently crossed above its 50-day moving average, reaching a high of C$228.03 during trading.
• Stifel Nicolaus has increased its target price for Lassonde Industries from C$250.00 to C$255.00, with a "buy" rating from three analysts.
• The company has a market cap of C$1.56 billion and a notable debt-to-equity ratio of 19.88, indicating its financial leverage status.

Lassonde Industries Inc (TSE:LAS.A - Get Free Report)'s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$216.25 and traded as high as C$228.03. Lassonde Industries shares last traded at C$228.03, with a volume of 604 shares.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus upped their target price on shares of Lassonde Industries from C$250.00 to C$255.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Lassonde Industries currently has a consensus rating of "Moderate Buy" and a consensus target price of C$243.25.

Lassonde Industries Trading Down 2.6%

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 stock's 50-day moving average is C$216.25 and its two-hundred day moving average is C$212.39. The stock has a market cap of C$1.56 billion, a P/E ratio of 13.45 and a beta of -0.44.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.