Ruddick Gains on Analyst Upgrade

NEW YORK — Shares of Ruddick Corp., parent of the Harris Teeter grocery chain, were up by nearly 5% Monday after an analyst upgraded the stock, citing macro trends that have bottomed out and the beginning of “trading up” within the store.

NEW YORK — Shares of Ruddick Corp., parent of the Harris Teeter grocery chain, were up by nearly 5% Monday after an analyst upgraded the stock, citing macro trends that have bottomed out and the beginning of “trading up” within the store.

Karen Short, an analyst with BMO Capital Markets here, also cited conservative Wall Street estimates for Ruddick’s earnings in the current third quarter and fiscal year.

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