Is Rogers Sugar Inc a Buy? The Stock Gapped Up Today

 Is Rogers Sugar Inc a Buy? The Stock Gapped Up Today

The stock of Rogers Sugar Inc (TSE:RSI) gapped up by $0.12 today and has $6.85 target or 7.00% above today’s $6.40 share price. The 9 months technical chart setup indicates low risk for the $601.62M company. The gap was reported on Nov, 24 by Barchart.com. If the $6.85 price target is reached, the company will be worth $42.11 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 142,159 shares traded hands or 7.13% up from the average. Rogers Sugar Inc (TSE:RSI) has risen 23.25% since April 20, 2016 and is uptrending. It has outperformed by 17.84% the S&P500.

Rogers Sugar Inc (TSE:RSI) Ratings Coverage

Out of 2 analysts covering Rogers Sugar Inc (TSE:RSI), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Rogers Sugar Inc has been the topic of 2 analyst reports since November 20, 2015 according to StockzIntelligence Inc. As per Thursday, November 26, the company rating was maintained by National Bank Canada.

More news for Rogers Sugar Inc (TSE:RSI) were recently published by: Reuters.com, which released: “BRIEF-Rogers Sugar Inc declares dividend to shareholders” on November 23, 2016. Reuters.com‘s article titled: “Rogers Sugar suspends production at Montreal plant after strike” and published on May 31, 2016 is yet another important article.

Rogers Sugar Inc. is a Canada-based company, which is engaged in the refining, packaging and marketing of sugar products. The company has a market cap of $601.62 million. The Firm holds all of the common shares of Lantic Inc. , which operates cane sugar refineries in Montreal, Quebec and Vancouver, British Columbia, as well as the Canadian sugar beet processing facility in Taber, Alberta. It has a 9.94 P/E ratio. In Eastern Canada, the Company markets sugar products under the Lantic trade name and include granulated, icing, cube, liquid, yellow and brown sugars.

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