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

Key Points

• Lassonde Industries shares crossed above their 50-day moving average, reaching C$240.00 before closing at C$239.34, compared with a 50-day average of C$237.06.
• Analyst sentiment remains positive overall, with three Buy ratings and one Hold rating. The stock has an average “Moderate Buy” rating and a consensus price target of C$278.00.
• In its latest quarter, Lassonde reported C$7.45 in earnings per share and C$737.69 million in revenue, while posting a 4.31% net margin and 10.05% return on equity.

Lassonde Industries Inc (TSE:LAS.A - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$237.06 and traded as high as C$240.00. Lassonde Industries shares last traded at C$239.34, with a volume of 2,354 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. National Bank Financial dropped their target price on shares of Lassonde Industries from C$260.00 to C$257.00 and set a "sector perform" rating for the company in a research report on Monday, August 10th. Stifel Nicolaus lifted their price objective on shares of Lassonde Industries from C$280.00 to C$300.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Finally, Canaccord Genuity Group lowered their price objective on shares of Lassonde Industries from C$290.00 to C$280.00 and set a "buy" rating for the company in a research report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of C$278.00.

Lassonde Industries Price Performance

The business has a 50-day moving average of C$237.06 and a two-hundred day moving average of C$226.48. The company has a current ratio of 1.78, a quick ratio of 0.55 and a debt-to-equity ratio of 19.88. The firm has a market cap of C$1.63 billion, a P/E ratio of 10.57 and a beta of -0.20.

Lassonde Industries (TSE:LAS.A - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported C$7.45 earnings per share for the quarter. Lassonde Industries had a return on equity of 10.05% and a net margin of 4.31%. The company had revenue of C$737.69 million for the quarter. On average, sell-side analysts anticipate that Lassonde Industries Inc will post 18.99 earnings per share for the current fiscal year.

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.

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