Zacks Investment Research Upgrades Anhui Conch Cement (OTCMKTS:AHCHY) to “Buy”

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Anhui Conch Cement (OTCMKTS:AHCHY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, reports. The firm presently has a $33.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 8.95% from the stock’s current price.

According to Zacks, “Anhui Conch Cement Company Limited, together with its subsidiaries, manufactures and sells clinkers and cement products under the CONCH brand in the People’s Republic of China and internationally. It also provides construction and installation services for industrial purposes; logistic and loading services; and mining and related services. In addition, the company manufactures and sells cement packaging products and refractory materials; trades in coal products; and develops and sells profile and related products, as well as exports clinker and cement products. Anhui Conch or Conch Cement is the largest cement manufacturer in the mainland China. “

OTCMKTS AHCHY opened at $30.29 on Monday. The company’s 50 day moving average is $31.79 and its 200-day moving average is $31.96. The company has a quick ratio of 3.54, a current ratio of 3.79 and a debt-to-equity ratio of 0.05. The firm has a market cap of $7.87 billion, a P/E ratio of 6.92 and a beta of 1.02. Anhui Conch Cement has a 12-month low of $29.14 and a 12-month high of $40.04.

Anhui Conch Cement (OTCMKTS:AHCHY) last released its quarterly earnings results on Thursday, March 25th. The company reported $1.39 EPS for the quarter. The company had revenue of $7.89 billion during the quarter.

About Anhui Conch Cement

Anhui Conch Cement Company Limited, together with its subsidiaries, manufactures, sells, and trades in clinker and cement products in the People's Republic of China and internationally. It primarily offers Portland cement, ordinary Portland cement, slag Portland cement, composite Portland cement under the CONCH brand.

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