Edenred (OTCMKTS:EDNMY) Rating Lowered to Strong Sell at Zacks Research

Edenred (OTCMKTS:EDNMY) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other analysts have also recently issued reports on the stock. Citigroup reiterated a “neutral” rating on shares of Edenred in a research note on Friday, April 24th. Jefferies Financial Group restated a “hold” rating on shares of Edenred in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Edenred Price Performance

Shares of Edenred stock opened at $16.50 on Tuesday. The company’s 50-day moving average price is $13.53 and its 200-day moving average price is $11.89. Edenred has a 12-month low of $8.60 and a 12-month high of $16.50.

Edenred Company Profile

Edenred is a global leader in prepaid corporate services, offering a suite of digital and paper-based solutions designed to enhance employee benefits, streamline expense management and support corporate fleets. The company originated in 1962 as part of the Accor group and was listed as an independent entity on Euronext Paris in 2010. Today, Edenred operates under the Ticket Restaurant® brand, which remains a flagship offering for meal voucher programs, alongside a host of other employee engagement and incentive tools.

The company’s core products and services include employee benefits such as meal vouchers, food allowances and leisure gift certificates, as well as incentive and rewards programs that help organizations motivate and recognize their workforce.