Lassonde Industries (TSE:LAS.A) Share Price Crosses Below 200 Day Moving Average – Here’s What Happened

Lassonde Industries Inc (TSE:LAS.A)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$223.51 and traded as low as C$213.50. Lassonde Industries shares last traded at C$213.50, with a volume of 980 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. National Bank Financial increased their target price on Lassonde Industries from C$247.00 to C$258.00 and gave the company a “sector perform” rating in a report on Friday, March 6th. Stifel Nicolaus upped their price objective on Lassonde Industries from C$265.00 to C$280.00 and gave the company a “buy” rating in a research report on Monday, March 30th. Finally, Desjardins increased their price objective on Lassonde Industries from C$270.00 to C$275.00 and gave the company a “buy” rating in a research note on Monday, March 30th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$271.00.

Lassonde Industries Stock Down 0.7%

The firm has a market cap of C$1.46 billion, a price-to-earnings ratio of 9.00 and a beta of -0.22. 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 firm has a fifty day moving average price of C$218.61 and a 200-day moving average price of C$223.51.

Lassonde Industries (TSE:LAS.A) last released its earnings results on Thursday, May 7th. The company reported C$5.36 earnings per share for the quarter. Lassonde Industries had a return on equity of 10.05% and a net margin of 4.31%.The firm had revenue of C$664.04 million for the quarter. As a group, sell-side analysts forecast that Lassonde Industries Inc will post 18.9924731 EPS for the current year.

Lassonde Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Wednesday, May 20th. Lassonde Industries’s payout ratio is presently 19.18%.

About Lassonde Industries

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.