Orkla ASA (OTCMKTS:ORKLY) Reaches New 52-Week High – Still a Buy?

Orkla ASA (OTCMKTS:ORKLY) reached a new 52-week high on Friday . The company traded as high as $9.93 and last traded at $9.75, with a volume of 11855 shares. The stock had previously closed at $9.79.

Wall Street Analysts Forecast Growth

Separately, Sanford C. Bernstein upgraded Orkla ASA from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 9th.

Orkla ASA Price Performance

The company has a market capitalization of $9.73 billion, a price-to-earnings ratio of 16.05 and a beta of 0.59. The company has a quick ratio of 0.70, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a 50 day simple moving average of $8.96 and a 200 day simple moving average of $9.06.

Orkla ASA (OTCMKTS:ORKLY) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.14 EPS for the quarter. The company had revenue of $1.70 billion during the quarter. Orkla ASA had a return on equity of 12.87% and a net margin of 8.18%.

About Orkla ASA

Orkla ASA engages in branded consumer goods, and industrial and financial investment businesses. The company offers branded products, including frozen pizza, ketchup, soups, sauces, bread toppings, and ready-to-eat meals through grocery channels, as well as food service, convenience stores, and petrol stations.