Rogers Sugar (TSE:RSI) Rating Increased to Hold at Scotiabank

Scotiabank upgraded shares of Rogers Sugar (TSE:RSI - Free Report) to a hold rating in a research note issued to investors on Friday,Zacks.com reports.

Separately, BMO Capital Markets lifted their target price on Rogers Sugar from C$6.50 to C$7.00 in a report on Friday, November 29th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Rogers Sugar has an average rating of "Hold" and a consensus price target of C$6.55.

Rogers Sugar Price Performance

Shares of TSE:RSI traded down C$0.08 during trading on Friday, hitting C$5.94. 194,868 shares of the company's stock were exchanged, compared to its average volume of 190,719. The business's 50-day simple moving average is C$5.84 and its 200 day simple moving average is C$5.72. The company has a market cap of C$759.84 million, a price-to-earnings ratio of 16.05 and a beta of 0.60. Rogers Sugar has a 52-week low of C$5.12 and a 52-week high of C$6.47. The company has a debt-to-equity ratio of 100.31, a current ratio of 1.66 and a quick ratio of 0.56.

Rogers Sugar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, January 9th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 6.06%. The ex-dividend date of this dividend is Friday, December 27th. Rogers Sugar's dividend payout ratio is 97.30%.

Insider Activity at Rogers Sugar

In related news, Senior Officer Michael Walton sold 20,000 shares of Rogers Sugar stock in a transaction dated Friday, December 20th. The shares were sold at an average price of C$5.96, for a total transaction of C$119,200.00. Also, Senior Officer Patrick Dionne sold 50,352 shares of the company's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of C$6.37, for a total transaction of C$320,943.65. 0.28% of the stock is owned by insiders.

About Rogers Sugar

Rogers Sugar Inc engages in refining, packaging, marketing, and distribution of sugar and maple products in Canada, the United States, Europe, and internationally. The company operates in two segments, Sugar and Maple Products. It offers granulated, plantation raw, yellow, brown, organic, icing, maple, stevia, liquid, smart sweetener blend, and coconut sugar; and syrups, jam and jelly mixes, and iced tea mixes.