Lassonde Industries (TSE:LAS.A) Stock Breaks Above 50 Day Moving Average – Time to Sell?

Shares of Lassonde Industries Inc (TSE:LAS.A) 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 traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LAS.A. Stifel Nicolaus raised their price objective on shares of Lassonde Industries from C$280.00 to C$300.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. National Bank Financial cut 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 note on Monday, August 10th. Finally, Canaccord Genuity Group cut their target price on shares of Lassonde Industries from C$290.00 to C$280.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Lassonde Industries has an average rating of “Moderate Buy” and a consensus price target of C$278.00.

Lassonde Industries Trading Up 1.7%

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 market capitalization of C$1.66 billion, a price-to-earnings ratio of 10.78 and a beta of -0.20. The business has a 50-day moving average of C$237.32 and a two-hundred day moving average of C$226.55.

Lassonde Industries (TSE:LAS.A) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$7.45 EPS 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$737.69 million during the quarter. Research analysts predict 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.