Lassonde Industries (TSE:LAS.A) Issues Quarterly Earnings Results

Lassonde Industries (TSE:LAS.A) issued its quarterly earnings data on Thursday. The company reported C$5.94 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$713.34 million for the quarter. Lassonde Industries had a net margin of 4.31% and a return on equity of 10.05%.

Lassonde Industries Trading Down 8.1%

Shares of LAS.A stock traded down C$20.54 on Friday, reaching C$233.46. The company had a trading volume of 3,468 shares, compared to its average volume of 1,836. The company has a 50-day moving average of C$240.41 and a 200-day moving average of C$228.64. Lassonde Industries has a 12 month low of C$202.51 and a 12 month high of C$272.98. The stock has a market cap of C$1.59 billion, a PE ratio of 10.31 and a beta of -0.07. The company has a current ratio of 1.78, a quick ratio of 0.55 and a debt-to-equity ratio of 19.88.

Analysts Set New Price Targets

A number of research firms recently commented on LAS.A. Canaccord Genuity Group decreased their price target 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. Stifel Nicolaus lifted their price objective on Lassonde Industries from C$280.00 to C$300.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, National Bank Financial boosted their price objective on Lassonde Industries from C$257.00 to C$264.00 and gave the stock a “sector perform” rating in a research note on Friday, October 23rd. Three equities 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$279.75.

Lassonde Industries Company Profile

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.