Lassonde Industries (TSE:LAS.A) Hits New 12-Month High – Here’s Why

Shares of Lassonde Industries Inc (TSE:LAS.A) hit a new 52-week high during mid-day trading on Monday. The company traded as high as C$255.00 and last traded at C$255.00, with a volume of 2,694 shares. The stock had previously closed at C$252.15.

Analysts Set New Price Targets

A number of analysts have weighed in on LAS.A shares. National Bank Financial increased their price target 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 raised their price target 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, August 10th. Finally, Canaccord Genuity Group dropped their price objective on shares of Lassonde Industries from C$290.00 to C$280.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Lassonde Industries has a consensus rating of “Moderate Buy” and an average target price of C$279.75.

Lassonde Industries Stock Performance

The firm has a fifty day simple moving average of C$240.26 and a 200 day simple moving average of C$228.44. The company has a current ratio of 1.78, a quick ratio of 0.55 and a debt-to-equity ratio of 19.88. The stock has a market cap of C$1.75 billion, a price-to-earnings ratio of 11.32 and a beta of -0.07.

Lassonde Industries (TSE:LAS.A) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$7.45 earnings per share for the quarter. The company had revenue of C$737.69 million for the quarter. Lassonde Industries had a return on equity of 10.05% and a net margin of 4.31%. As a group, sell-side analysts expect that Lassonde Industries Inc will post 18.99 earnings per share for the current 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.