IHI (OTCMKTS:IHICY) Hits New 1-Year High – Still a Buy?

Ihi Corp (OTCMKTS:IHICY)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $24.10 and last traded at $23.78, with a volume of 490406 shares traded. The stock had previously closed at $22.62.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IHICY. Zacks Research cut IHI from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 30th. The Goldman Sachs Group lowered IHI from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

IHI Stock Performance

The business’s fifty day simple moving average is $19.08 and its 200-day simple moving average is $22.95. The firm has a market cap of $23.99 billion, a P/E ratio of 33.43 and a beta of 0.70. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 0.64.

IHI Company Profile

IHI Corporation (OTCMKTS: IHICY) is a Japanese engineering and industrial conglomerate originally known as Ishikawajima‑Harima Heavy Industries. Headquartered in Tokyo, the company designs, manufactures and services a broad range of heavy machinery, equipment and integrated systems for industrial and infrastructure markets. Its securities are available to international investors through American depositary receipts that trade over the counter under the symbol IHICY.

IHI’s principal activities span several sectors, including aerospace, energy and industrial machinery.