Kerry Group (OTCMKTS:KRYAY) Hits New 12-Month High on Analyst Upgrade

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

KRYAY has been the topic of a number of other research reports. Citigroup restated a “neutral” rating on shares of Kerry Group in a report on Thursday, July 30th. Sanford C. Bernstein began coverage on shares of Kerry Group in a research note on Wednesday, July 22nd. They issued an “outperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Kerry Group in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Kerry Group stock. Madison Asset Management LLC lifted its stake in Kerry Group PLC (OTCMKTS:KRYAY) by 0.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,751 shares of the company’s stock after acquiring an additional 113 shares during the period. Madison Asset Management LLC’s holdings in Kerry Group were worth $2,922,000 at the end of the most recent reporting period. 0.22% of the stock is currently owned by institutional investors and hedge funds.

Kerry Group Price Performance

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

About Kerry Group

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.