Lassonde Industries (TSE:LAS.A) Shares Pass Below 50-Day Moving Average - Here's Why

Shares of Lassonde Industries Inc (TSE:LAS.A - Get Free Report) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$216.59 and traded as low as C$214.89. Lassonde Industries shares last traded at C$214.90, with a volume of 490 shares.

Analyst Upgrades and Downgrades

LAS.A has been the subject of several research analyst reports. Desjardins raised Lassonde Industries from a "hold" rating to a "buy" rating and lifted their price objective for the stock from C$205.00 to C$255.00 in a report on Monday, March 31st. Stifel Nicolaus lifted their price objective on Lassonde Industries from C$243.00 to C$250.00 in a report on Monday, May 12th. Canaccord Genuity Group lifted their price objective on Lassonde Industries from C$225.00 to C$240.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Finally, National Bankshares lifted their price objective on Lassonde Industries from C$213.00 to C$223.00 and gave the stock a "sector perform" rating in a report on Monday, March 31st.

Lassonde Industries Price Performance

The company has a fifty day moving average of C$217.34 and a two-hundred day moving average of C$201.12. The company has a market cap of C$648.45 million, a PE ratio of 14.03 and a beta of -0.15. The company has a debt-to-equity ratio of 19.88, a quick ratio of 0.55 and a current ratio of 1.78.

Lassonde Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, June 13th were paid a $1.10 dividend. This is a positive change from Lassonde Industries's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $4.40 dividend on an annualized basis and a yield of 2.08%. 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.