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

Lassonde Industries Inc (TSE:LAS.A) crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$228.76 and traded as low as C$220.51. Lassonde Industries shares last traded at C$225.94, with a volume of 4,685 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LAS.A shares. Desjardins cut their price objective on Lassonde Industries from C$275.00 to C$270.00 and set a “buy” rating on the stock in a research note on Monday. National Bank Financial boosted their target price on shares of Lassonde Industries from C$257.00 to C$264.00 and gave the company a “sector perform” rating in a report on Friday, October 23rd. Stifel Nicolaus cut their price target on shares of Lassonde Industries from C$300.00 to C$285.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Canaccord Genuity Group cut their target price on Lassonde Industries from C$290.00 to C$280.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$274.75.

Lassonde Industries Price Performance

The company has a debt-to-equity ratio of 19.88, a current ratio of 1.78 and a quick ratio of 0.55. The firm has a market cap of C$1.54 billion, a P/E ratio of 9.98 and a beta of -0.07. The company has a fifty day moving average of C$239.98 and a 200-day moving average of C$228.76.

Lassonde Industries (TSE:LAS.A) last posted its earnings results on Thursday, November 5th. The company reported C$5.94 earnings per share (EPS) for the quarter. The firm had revenue of C$713.34 million during the quarter. Lassonde Industries had a net margin of 4.31% and a return on equity of 10.05%. On average, sell-side analysts anticipate that Lassonde Industries Inc will post 18.99 EPS for the current fiscal year.

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.