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

Shares of Lassonde Industries Inc (TSE:LAS.A - Get Free Report) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$211.97 and traded as high as C$216.69. Lassonde Industries shares last traded at C$215.01, with a volume of 3,551 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LAS.A shares. Stifel Nicolaus increased their price target on shares of Lassonde Industries from C$243.00 to C$250.00 in a research note on Monday, May 12th. National Bankshares increased their price target on shares of 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. Desjardins raised shares of Lassonde Industries from a "hold" rating to a "buy" rating and raised their target price for the company from C$205.00 to C$255.00 in a research note on Monday, March 31st. Finally, Canaccord Genuity Group raised their target price on shares of 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$229.60.

Lassonde Industries Stock Performance

The business's 50-day moving average price is C$212.78 and its 200-day moving average price is C$195.71. 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 stock has a market cap of C$666.34 million, a P/E ratio of 14.42 and a beta of -0.15.

Lassonde Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, June 13th were paid a dividend of $1.10 per share. The ex-dividend date was Wednesday, May 21st. This is an increase from Lassonde Industries's previous quarterly dividend of $0.70. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.03%. 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.