Edenred (OTCMKTS:EDNMY) Reaches New 12-Month High – Should You Buy?

Edenred (OTCMKTS:EDNMY) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.60 and last traded at $16.60, with a volume of 3053 shares trading hands. The stock had previously closed at $15.80.

Analysts Set New Price Targets

EDNMY has been the subject of a number of analyst reports. Jefferies Financial Group restated a “hold” rating on shares of Edenred in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Edenred in a report on Monday. Citigroup restated a “neutral” rating on shares of Edenred in a research note on Thursday, July 30th. Finally, Zacks Research downgraded Edenred from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Edenred Stock Down 3.2%

The company’s 50 day simple moving average is $13.89 and its two-hundred day simple moving average is $12.09.

About Edenred

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.