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

Symrise AG Unsponsored ADR (OTCMKTS:SYIEY)’s share price 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 changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on SYIEY. Sanford C. Bernstein upgraded shares of Symrise to a “hold” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group upgraded shares of Symrise from a “hold” rating to a “buy” rating in a research note on Tuesday, September 1st. Morgan Stanley restated an “overweight” rating on shares of Symrise in a research note on Thursday, August 27th. Finally, Citigroup reaffirmed a “buy” rating on shares of Symrise in a report on Friday, September 25th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Symrise currently has a consensus rating of “Moderate Buy”.

Symrise Price Performance

The company’s fifty day moving average is $26.05 and its two-hundred day moving average is $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.