Kerry Group (OTCMKTS:KRYAY) Reaches New 52-Week High on Analyst Upgrade

Shares of Kerry Group PLC (OTCMKTS:KRYAY) reached a new 52-week high during trading on Friday after The Goldman Sachs Group upgraded the stock to a strong-buy rating. The stock traded as high as $99.0346 and last traded at $99.0346, with a volume of 4859 shares changing hands. The stock had previously closed at $96.80.

KRYAY has been the subject of several other research reports. Sanford C. Bernstein initiated coverage on Kerry Group in a research note on Wednesday, July 22nd. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Kerry Group in a research report on Thursday, July 30th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Kerry Group in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Kerry Group currently has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Kerry Group

A hedge fund recently raised its stake in Kerry Group stock. Madison Asset Management LLC lifted its position in Kerry Group PLC (OTCMKTS:KRYAY) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,751 shares of the company’s stock after buying an additional 113 shares during the quarter. Madison Asset Management LLC’s holdings in Kerry Group were worth $2,922,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 0.22% of the company’s stock.

Kerry Group Trading Up 1.6%

The company has a 50 day moving average of $93.74 and a 200-day moving average of $87.03. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.42.

Kerry Group Company Profile

Kerry Group (OTCMKTS:KRYAY) is a global leader in taste and nutrition solutions for the food, beverage and pharmaceutical industries. The company develops, manufactures and supplies a broad portfolio of ingredients, flavors and integrated solutions designed to enhance taste, improve health and simplify production processes. Kerry’s offerings span across dairy-based ingredients, flavors, texturizers, enzymes, probiotics and nutritional premixes, serving both industrial customers and consumer food brands.

Through its Taste & Nutrition division, Kerry provides customized flavor systems, savory and sweet taste platforms, and nutritional ingredients for applications such as snacks, bakery, dairy, beverages and meat alternatives.