Prysmian (OTCMKTS:PRYMY) Reaches New 12-Month High – Still a Buy?

Prysmian S.p.A. (OTCMKTS:PRYMY) reached a new 52-week high during trading on Wednesday . The company traded as high as $81.90 and last traded at $81.7480, with a volume of 143517 shares trading hands. The stock had previously closed at $73.99.

Wall Street Analysts Forecast Growth

PRYMY has been the topic of a number of recent research reports. BNP Paribas Exane initiated coverage on shares of Prysmian in a research note on Wednesday. They issued a “neutral” rating on the stock. Citigroup restated a “buy” rating on shares of Prysmian in a research note on Thursday, January 15th. Berenberg Bank lowered shares of Prysmian from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft lowered shares of Prysmian from a “buy” rating to a “hold” rating in a research note on Monday, February 9th. Finally, Zacks Research upgraded shares of Prysmian from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Prysmian Price Performance

The business’s 50 day moving average price is $62.90 and its 200-day moving average price is $56.25. The firm has a market capitalization of $46.91 billion and a price-to-earnings ratio of 133.61.

Prysmian Company Profile

Prysmian Group is a leading global manufacturer of cables and systems for energy and telecoms, operating under the OTCMKTS ticker PRYMY. The company specializes in the design, production and distribution of high-technology cables that deliver power and data in a broad range of applications, from high-voltage subsea transmission to fiber-optic networks for telecommunications. Its core mission is to enable efficient energy transmission and advanced digital connectivity for utilities, industrial and infrastructure customers worldwide.

The group’s product portfolio spans power cables for high-voltage and extra-high-voltage transmission, medium- and low-voltage distribution cables, flexible industrial cables, and specialty cables for renewable energy installations.