Forest Laboratories (NYSE:FRX) hit a new 52-week high Thursday as it is currently trading at $37.51, above its previous 52-week high of $37.31 with 391,269 shares traded as of 9:46 a.m. ET. Average volume has been two million shares over the past 30 days.
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Forest Laboratories (NYSE: FRX) hit a new 52-week high Thursday as it is currently trading at $37.51, above its previous 52-week high of $37.31 with 391,269 shares traded as of 9:46 a.m. ET. Average volume has been two million shares over the past 30 days. Forest has a market cap of $9.58 billion and is part of the health care sector and drugs industry. Shares are up 19.1% year to date as of the close of trading on Wednesday. Forest Laboratories, Inc. develops, manufactures, and sells branded forms of ethical drug products primarily in the United States and Europe. The company has a P/E ratio of 12.5, equal to the average drugs industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Forest as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. You can view the full Forest Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center. FREE from Real Money's Jim Cramer: Winners and Losers Election 2012 - Steps to take NOW so you can profit no matter who is in charge! Free download now.