McCormick & Company Incorporated (MKC) : Analyst Rating Update

McCormick & Company Incorporated (MKC) : 1 brokerage houses believe that McCormick & Company Incorporated (MKC) is a Strong Buy at current levels. 6 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on McCormick & Company Incorporated (MKC). Zacks Investment Research suggests a Hold with a rank of 3. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 8 Wall Street Analysts endorse the stock as a Hold with a rating of 3.

McCormick & Company Incorporated (MKC) : 5 investment research analysts covering McCormick & Company Incorporated (MKC) have an average price target of $95.2 for the near short term. The highest target price given by the Brokerage Firm to the stock is $110 and the lowest target is $76 for the short term. Analysts expect the variance to be within $12.36 of the average price.

McCormick & Company Incorporated (NYSE:MKC): The stock opened at $106.48 on Wednesday but the bulls could not build on the opening and the stock topped out at $107.34 for the day. The stock traded down to $106.18 during the day, due to lack of any buying support eventually closed down at $106.67 with a loss of -0.37% for the day. The stock had closed at $107.07 on the previous day. The total traded volume was 1,263,030 shares.

Also, Equity Analysts at the Citigroup upgrades the rating on McCormick & Company Incorporated (NYSE:MKC). The brokerage firm has issued a Neutral rating on the shares. The shares were previously rated Sell. The Analysts at the ratings agency raises the price target from $85 per share to $102 per share. The rating by the firm was issued on June 23, 2016. The company shares have rallied 34.46% from its 1 Year high price. On Jul 5, 2016, the shares registered one year high at $107.84 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $99.46 and the 200 Day Moving Average price is recorded at $93.58.

McCormick & Company, Incorporated manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the food industry. The Company has two business segments: consumer and industrial. Under the Consumer segment, its brands in the Americas include McCormick, Lawrys and Club House. It also markets ethnic brands, such as Zatarains, Thai Kitchen and Simply Asia. In Europe, the Middle East and Africa (EMEA), its brands include the Ducros, Schwartz and Kamis brands of spices, herbs and seasonings, and a line of Vahine brand dessert items. In the Asia/Pacific region, it markets products under the McCormick and DaQiao brands. In Australia, it markets products under the McCormick brand. In India, its majority-owned joint venture owns and trades under the Kohinoor brand. In the industrial business segment, it offers seasoning blends, spices and herbs, condiments, coating systems and compound flavors to food manufacturers and foodservice customers.

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