Symrise (OTCMKTS:SYIEY) Sets New 52-Week High – Time to Buy?

Symrise AG Unsponsored ADR (OTCMKTS:SYIEY) hit a new 52-week high during mid-day trading on Thursday. The company traded as high as $27.81 and last traded at $27.81, with a volume of 4,357 shares traded. The stock had previously closed at $26.90.

Analysts Set New Price Targets

SYIEY has been the topic of several research analyst reports. Sanford C. Bernstein raised Symrise to a “hold” rating in a research note on Wednesday, July 22nd. Citigroup restated a “buy” rating on shares of Symrise in a research report on Friday, September 25th. Jefferies Financial Group upgraded shares of Symrise from a “hold” rating to a “buy” rating in a report on Tuesday, September 1st. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Symrise in a report on Thursday, August 27th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Symrise Price Performance

The stock’s 50-day moving average price is $26.08 and its 200 day moving average price is $24.30.

About Symrise

Symrise AG is a Germany-based global supplier of flavorings, fragrances, cosmetic ingredients and nutritional solutions. The company develops ingredients and formulation systems used by manufacturers in the food and beverage, consumer goods, fragrance, personal care and health industries.

Its business is organized around areas that include Taste, Scent and Care, and Nutrition. Products and services include flavors for foods and beverages, fragrance compounds for perfumes and household products, functional ingredients for cosmetics and personal care, and ingredients used in dietary supplements, pet food and other nutrition applications.

Symrise was formed in 2003 through the merger of Haarmann & Reimer and Dragoco, two businesses with roots in the European flavor and fragrance industry.