Lassonde Industries (TSE:LAS.A) Stock Price Passes Above 50 Day Moving Average – Here’s Why

Lassonde Industries Inc (TSE:LAS.A)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$211.30 and traded as high as C$220.00. Lassonde Industries shares last traded at C$215.21, with a volume of 2,566 shares traded.

Analysts Set New Price Targets

LAS.A has been the topic of several analyst reports. National Bankshares increased their price objective on Lassonde Industries from C$213.00 to C$223.00 and gave the company a “sector perform” rating in a research note on Monday, March 31st. Desjardins upgraded Lassonde Industries from a “hold” rating to a “buy” rating and increased their price objective for the company from C$205.00 to C$255.00 in a research note on Monday, March 31st. Stifel Nicolaus increased their price objective on Lassonde Industries from C$243.00 to C$250.00 in a research note on Monday, May 12th. Finally, Canaccord Genuity Group increased their price objective on 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$229.60.

Lassonde Industries Stock Performance

The company has a quick ratio of 0.55, a current ratio of 1.78 and a debt-to-equity ratio of 19.88. The stock has a fifty day moving average of C$211.30 and a 200-day moving average of C$193.44. The stock has a market cap of C$660.69 million, a PE ratio of 14.30 and a beta of -0.15.

Lassonde Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, June 13th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a positive change from Lassonde Industries’s previous quarterly dividend of $0.70. Lassonde Industries’s payout ratio is currently 26.58%.

Lassonde Industries Company Profile

Lassonde Industries Inc, together with its subsidiaries, develops, manufactures, and markets various ready-to-drink fruit and vegetable juices and drinks in Canada, the United States, and internationally. The company also offers cranberry sauces; and develops, manufactures, and markets specialty food products, including fondue broths and sauces, packaged corn-on-the-cob, and pasta sauces.