Rogers Sugar (TSE:RSI) Reaches New 12-Month High - Time to Buy?

Key Points

• Rogers Sugar hit a new 52-week high on Friday, trading as high as C$7.01 and closing near that level at C$6.99.
• TD Securities recently upgraded the stock to a hold, and the overall analyst consensus remains Hold with an average target price of C$6.90.
• The company declared a quarterly dividend of C$0.09 per share, equal to an annualized yield of about 5.1%, while insiders have also been selling shares in recent months.

Rogers Sugar Inc. (TSE:RSI - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as C$7.01 and last traded at C$6.99, with a volume of 106240 shares changing hands. The stock had previously closed at C$6.94.

Analyst Ratings Changes

Separately, TD Securities upgraded Rogers Sugar to a "hold" rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of C$6.90.

Rogers Sugar Stock Up 0.9%

The company has a debt-to-equity ratio of 88.50, a current ratio of 2.22 and a quick ratio of 0.56. The firm has a market capitalization of C$897.86 million, a price-to-earnings ratio of 13.21 and a beta of 0.70. The firm's 50-day moving average price is C$6.78 and its 200 day moving average price is C$6.53.

Rogers Sugar (TSE:RSI - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported C$0.14 earnings per share for the quarter. Rogers Sugar had a return on equity of 14.94% and a net margin of 5.58%.The company had revenue of C$280.62 million during the quarter. Sell-side analysts expect that Rogers Sugar Inc. will post 0.5597668 EPS for the current year.

Rogers Sugar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Friday, June 26th. Rogers Sugar's dividend payout ratio is 67.92%.

Insiders Place Their Bets

In other news, insider Michael Walton sold 14,100 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of C$6.81, for a total value of C$96,021.00. Following the completion of the sale, the insider directly owned 246,647 shares of the company's stock, valued at approximately C$1,679,666.07. This represents a 5.41% decrease in their position. Insiders have sold a total of 58,000 shares of company stock valued at $395,419 over the last three months. Corporate insiders own 0.28% of the company's stock.

About Rogers Sugar

Rogers is a corporation established under the laws of Canada. The Corporation holds all of the common shares of Lantic and its administrative office is in Montréal, Québec. Lantic operates cane sugar refineries in Montréal, Québec, and Vancouver, British Columbia, as well as the only Canadian sugar beet processing facility in Taber, Alberta. Lantic also operates a distribution center in Toronto, Ontario. Lantic's sugar products are mainly marketed under the 'Lantic' trademark in Eastern Canada, and the 'Rogers' trademark in Western Canada and include granulated, icing, cube, yellow and brown sugars, liquid sugars, and specialty syrups.

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