Bridgford Foods (NASDAQ:BRID) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Bridgford Foods (NASDAQ:BRID) from a sell rating to a hold rating in a research note published on Thursday morning, ValuEngine reports.

NASDAQ BRID traded down $0.80 on Thursday, hitting $24.75. 13,121 shares of the stock were exchanged, compared to its average volume of 11,098. Bridgford Foods has a 52-week low of $22.01 and a 52-week high of $38.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.60 and a quick ratio of 1.45. The company has a market capitalization of $231.91 million, a price-to-earnings ratio of 30.94 and a beta of 1.04. The company’s 50-day moving average price is $25.30 and its two-hundred day moving average price is $29.72.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northern Trust Corp grew its position in Bridgford Foods by 11.0% during the 2nd quarter. Northern Trust Corp now owns 15,800 shares of the company’s stock worth $470,000 after purchasing an additional 1,571 shares in the last quarter. State Street Corp grew its position in Bridgford Foods by 27.9% during the 3rd quarter. State Street Corp now owns 19,332 shares of the company’s stock worth $583,000 after purchasing an additional 4,214 shares in the last quarter. California Public Employees Retirement System grew its position in Bridgford Foods by 7.8% during the 3rd quarter. California Public Employees Retirement System now owns 20,127 shares of the company’s stock worth $607,000 after purchasing an additional 1,455 shares in the last quarter. Vanguard Group Inc. grew its position in Bridgford Foods by 42.6% during the 2nd quarter. Vanguard Group Inc. now owns 23,670 shares of the company’s stock worth $705,000 after purchasing an additional 7,069 shares in the last quarter. Finally, BlackRock Inc. grew its position in Bridgford Foods by 7,151.6% during the 2nd quarter. BlackRock Inc. now owns 72,516 shares of the company’s stock worth $2,157,000 after purchasing an additional 71,516 shares in the last quarter. Hedge funds and other institutional investors own 7.17% of the company’s stock.

About Bridgford Foods

Bridgford Foods Corporation, together with its subsidiaries, manufactures, markets, and distributes frozen, refrigerated, and snack food products in the United States. The company operates in two segments, Frozen Food Products and Snack Food Products. It primarily offers biscuits, bread dough items, roll dough items, and dry sausage and beef jerky products.

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