Canaccord Genuity Group Cuts Lassonde Industries (TSE:LAS.A) Price Target to C$280.00

Lassonde Industries (TSE:LAS.A) had its price target trimmed by Canaccord Genuity Group from C$290.00 to C$280.00 in a research report report published on Monday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also weighed in on LAS.A. National Bank Financial cut their price objective on shares of Lassonde Industries from C$260.00 to C$257.00 and set a “sector perform” rating on the stock in a research report on Monday. Stifel Nicolaus boosted their target price on shares of Lassonde Industries from C$280.00 to C$300.00 and gave the stock a “buy” rating in a research report on Monday. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Lassonde Industries has a consensus rating of “Moderate Buy” and a consensus price target of C$278.00.

Lassonde Industries Stock Up 0.5%

LAS.A opened at C$237.00 on Monday. Lassonde Industries has a fifty-two week low of C$202.51 and a fifty-two week high of C$253.85. The business has a 50-day moving average of C$217.76 and a 200-day moving average of C$223.34. 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 company has a market capitalization of C$1.62 billion, a PE ratio of 10.47 and a beta of -0.20.

Lassonde Industries (TSE:LAS.A) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$7.45 earnings per share (EPS) for the quarter. The business had revenue of C$737.69 million during the quarter. Lassonde Industries had a return on equity of 10.05% and a net margin of 4.31%. Equities research analysts forecast that Lassonde Industries will post 18.9924731 EPS for the current fiscal year.

Lassonde Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were given a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.1%. Lassonde Industries’s payout ratio is currently 20.76%.

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.