Zacks Investment Research Lowers HOYA (OTCMKTS:HOCPY) to Strong Sell

HOYA (OTCMKTS:HOCPY) was downgraded by Zacks Investment Research from a “buy” rating to a “strong sell” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Hoya Corporation is a specialty manufacturer of optical glass. The Company’s business activities include information technology, eye care, medical, and imaging systems. Its information technologies products include mask blanks and photomasks for semiconductor and LCD, glass memory disks, optical lenses, laser equipment and glass for electronic materials. Its eye care segment includes eyeglass lenses, contact lenses and intraocular lenses while the medical segment includes endoscopic imaging devices and hydroxyapatite. The Company’s imaging system offers digital cameras and CCTV lenses. It also offers system architecture, crystal products, surveying instruments. Hoya Corporation is based in Tokyo, Japan. “

Shares of HOCPY traded up $4.36 during mid-day trading on Friday, reaching $134.65. 74,869 shares of the company’s stock traded hands, compared to its average volume of 39,602. The stock has a market cap of $49.78 billion, a P/E ratio of 35.34 and a beta of 0.37. The stock’s 50-day moving average is $152.92 and its two-hundred day moving average is $152.26. HOYA has a 12 month low of $109.02 and a 12 month high of $179.94. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.81 and a quick ratio of 4.20.

HOYA (OTCMKTS:HOCPY) last announced its quarterly earnings results on Thursday, October 28th. The technology company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. HOYA had a return on equity of 22.05% and a net margin of 24.37%. Research analysts predict that HOYA will post 4.29 earnings per share for the current year.

HOYA Company Profile

HOYA Corp. engages in the manufacture and sale of imaging products, electronics, and medical-related equipment. It operates through the following segments: Information Technology, Life Care, and Others. The Information Technology segment develops, sells and produces input and output (I/O) device related products for the information & communications sector, including imaging, modern digital information and communications technology related products.

Recommended Story: Breakout Stocks

Get a free copy of the Zacks research report on HOYA (HOCPY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for HOYA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HOYA and related companies with MarketBeat.com's FREE daily email newsletter.