Orkla ASA (OTCMKTS:ORKLY) Sets New 12-Month High – Here’s Why

Orkla ASA (OTCMKTS:ORKLY) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $10.86 and last traded at $10.67, with a volume of 20800 shares trading hands. The stock had previously closed at $10.60.

Analyst Upgrades and Downgrades

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

Orkla ASA Stock Performance

The stock has a market cap of $10.65 billion, a PE ratio of 19.06 and a beta of 0.53. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.70 and a current ratio of 1.30. The company’s 50-day moving average price is $9.59 and its two-hundred day moving average price is $9.31.

Orkla ASA (OTCMKTS:ORKLY) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.14 EPS for the quarter. Orkla ASA had a net margin of 8.58% and a return on equity of 13.13%. The firm had revenue of $1.70 billion for the quarter.

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.