- Bunge (BG) is a leading global agribusiness and food company.
- The stock has strong technical momentum and maintains a 100% “Buy” opinion from Barchart.
- Shares hit a new 3-year high on Thursday, Jan. 29.
- Analyst sentiment is mixed, however, with price targets ranging from $80 to $135.
Today’s Featured Stock
Valued at $22.3 billion, Bunge (BG) is an integrated global agribusiness and food company spanning the farm-to-consumer food chain. Bunge processes, produces, moves, distributes, and markets food on five continents.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. BG checks those boxes. Since the Trend Seeker issued a new “Buy” on Jan. 8, shares are up 16.34%.
Barchart Technical Indicators for Bunge
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
Bunge scored a new 3-Year high of $119.57 on Jan. 29.
- BG has a Weighted Alpha of +59.04.
- Bunge has a 100% “Buy” opinion from Barchart.
- The stock has gained 46.19% over the past 52 weeks.
- BG has its Trend Seeker “Buy” signal intact.
- The stock recently traded at $113.28 with a 50-day moving average of $97.99.
- Bunge has made 18 new highs and is up 26.58% over the past month.
- Relative Strength Index (RSI) is at 72.71.
- There’s a technical support level around $113.28.
Don’t Forget the Fundamentals
- $22.3 billion market capitalization.
- 15.3x trailing price-earnings ratio.
- 2.49% dividend yield.
- Revenue is projected to increase by 30.02% this year and another 34.57% next year.
- Earnings are estimated to decrease by 20.11% this year and increase by 21.79% next year.
Analyst and Investor Sentiment on Bunge
- The analysts tracked by Barchart gave Bunge 8 “Strong Buy,” 1 “Moderate Buy” and 1 “Hold” rating with price targets between $80 and $120.
- Value Line rates the stock “Average” with price targets between $50 and $135.
- CFRA’s Market Scope rates the stock a “Hold” but has a price target of $103.
- Morningstar thinks the stock is Fairly Valued.
- 19,920 investors are following the stock on Seeking Alpha, which rates the stock a “Hold.”
- Short interest is low at 3.31% of the float with 4.82 days to cover the float.
The Bottom Line on Bunge
Agribusiness and food distribution is a very solid and core industry, and this is one of the leaders.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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