Ajinomoto (OTCMKTS:AJINY) Sets New 1-Year High - Still a Buy?

Key Points

• Ajinomoto Co. (OTCMKTS:AJINY) shares reached a new 52-week high of $30.20, reflecting a significant increase from a previous close of $28.54.
• Analysts have recently upgraded Ajinomoto, with Nomura Securities and CLSA issuing a "hold" and "strong-buy" rating, respectively, contributing to a current consensus rating of "Buy."
• The company reported earnings per share of $0.23 in its latest quarterly earnings, surpassing the consensus estimate, though revenue fell short at $2.47 billion against expectations of $2.69 billion.

Shares of Ajinomoto Co. (OTCMKTS:AJINY - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $30.20 and last traded at $30.20, with a volume of 15108 shares traded. The stock had previously closed at $28.54.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AJINY. Nomura Securities raised shares of Ajinomoto to a "hold" rating in a research note on Tuesday, May 27th. CLSA raised shares of Ajinomoto to a "strong-buy" rating in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Ajinomoto currently has a consensus rating of "Buy".

Ajinomoto Trading Down 1.2%

The firm has a market capitalization of $28.73 billion, a price-to-earnings ratio of 48.05 and a beta of 0.52. The business's 50-day simple moving average is $27.27 and its two-hundred day simple moving average is $28.10. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 0.54.

Ajinomoto (OTCMKTS:AJINY - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.02. Ajinomoto had a net margin of 6.02% and a return on equity of 10.45%. The business had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.69 billion.

About Ajinomoto

Ajinomoto Co, Inc engages in the seasonings and foods, frozen foods, and healthcare and other businesses in Japan and internationally. The Seasonings and Foods segment offers sauces and seasoning products under the AJI-NO-MOTO, HON-DASHI, Cook Do, Ajinomoto KK Consommé, Pure Select Mayonnaise, Ros Dee, Masako, Aji-ngon, Sazón, Sajiku, and CRISPY FRY names; and solutions and ingredients for foodservice and processed food manufacturers, processed foods, and restaurants, as well as industrial, retail, and other applications.