IHI (OTCMKTS:IHICY) Hits New 1-Year High – Here’s Why

Shares of Ihi Corp (OTCMKTS:IHICY) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $28.31 and last traded at $27.96, with a volume of 72365 shares traded. The stock had previously closed at $26.21.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IHICY. Zacks Research downgraded IHI from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 30th. The Goldman Sachs Group lowered IHI from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

IHI Trading Up 6.7%

The company has a market capitalization of $30.27 billion, a P/E ratio of 42.18 and a beta of 0.68. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.19 and a quick ratio of 0.74. The firm has a fifty day moving average price of $20.55 and a 200-day moving average price of $22.75.

About IHI

IHI Corporation (OTCMKTS: IHICY) is a Japanese engineering and industrial conglomerate originally known as Ishikawajima‑Harima Heavy Industries. Headquartered in Tokyo, the company designs, manufactures and services a broad range of heavy machinery, equipment and integrated systems for industrial and infrastructure markets. Its securities are available to international investors through American depositary receipts that trade over the counter under the symbol IHICY.

IHI’s principal activities span several sectors, including aerospace, energy and industrial machinery.