Symrise (OTCMKTS:SYIEY) Shares Gap Up – Still a Buy?

Symrise AG Unsponsored ADR (OTCMKTS:SYIEY) shares gapped up prior to trading on Tuesday. The stock had previously closed at $25.97, but opened at $26.98. Symrise shares last traded at $26.84, with a volume of 2,494 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SYIEY shares. Citigroup reiterated a “buy” rating on shares of Symrise in a 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. Sanford C. Bernstein upgraded shares of Symrise to a “hold” rating in a report on Wednesday, July 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Symrise in a research report on Thursday, August 27th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Symrise presently has an average rating of “Moderate Buy”.

Symrise Stock Performance

The company has a 50-day moving average of $26.05 and a 200-day moving average of $24.21.

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.