Kerry Group (OTCMKTS:KRYAY) Shares Gap Up - Should You Buy?

Key Points

• Kerry Group shares gapped up from a previous close of $105.33 to open at $111.67, though trading volume was light at just 455 shares.
• Analyst sentiment is positive: Goldman Sachs upgraded the stock to “strong buy,” Citigroup moved to “buy,” and the overall consensus rating is “Buy,” based on one Strong Buy and three Buy ratings.
• Kerry Group has moderate leverage and solid liquidity, with a 0.44 debt-to-equity ratio, 1.77 current ratio and 1.14 quick ratio; institutional ownership remains limited at 0.22%.

Kerry Group PLC (OTCMKTS:KRYAY - Get Free Report) shares gapped up before the market opened on Friday. The stock had previously closed at $105.33, but opened at $111.67. Kerry Group shares last traded at $111.67, with a volume of 455 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KRYAY. The Goldman Sachs Group raised shares of Kerry Group to a "strong-buy" rating in a research note on Thursday, August 20th. Citigroup raised shares of Kerry Group from a "neutral" rating to a "buy" rating in a research report on Friday, September 25th. Sanford C. Bernstein began coverage on Kerry Group in a research note on Wednesday, July 22nd. They set an "outperform" rating for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Kerry Group in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, Kerry Group presently has an average rating of "Buy".

Kerry Group Trading Down 1.4%

The company has a quick ratio of 1.14, a current ratio of 1.77 and a debt-to-equity ratio of 0.44. The stock's fifty day simple moving average is $98.81 and its 200-day simple moving average is $91.90.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Kerry Group stock. Madison Asset Management LLC grew its holdings in shares of Kerry Group PLC (OTCMKTS:KRYAY - Free Report) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,751 shares of the company's stock after purchasing 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 owned by institutional investors.

About Kerry Group

Kerry Group plc is an Ireland-based food ingredients and consumer products company serving food, beverage and pharmaceutical manufacturers worldwide. Its ingredients business develops taste, nutrition and functional solutions used in products such as beverages, baked goods, dairy products, meat and meat alternatives, snacks and prepared foods.

The company also produces branded consumer foods, with a focus on markets including Ireland and the United Kingdom. Its product portfolio has included chilled and convenience foods, dairy products, meal solutions and other everyday food products.

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