Asahi Kasei (OTCMKTS:AHKSY) Shares Gap Up – Time to Buy?

Shares of Asahi Kasei Corp. (OTCMKTS:AHKSY) gapped up before the market opened on Thursday . The stock had previously closed at $19.4150, but opened at $20.9050. Asahi Kasei shares last traded at $20.9250, with a volume of 4,961 shares.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Asahi Kasei to a “hold” rating in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Asahi Kasei has a consensus rating of “Hold”.

Asahi Kasei Stock Up 1.7%

The company has a current ratio of 2.20, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46. The business’s 50-day simple moving average is $18.16 and its 200-day simple moving average is $16.61. The company has a market capitalization of $14.57 billion, a PE ratio of 15.26 and a beta of 0.43.

Asahi Kasei (OTCMKTS:AHKSY) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.12 billion. Asahi Kasei had a return on equity of 7.41% and a net margin of 4.64%.

Asahi Kasei Company Profile

Asahi Kasei Corp., headquartered in Tokyo, is a diversified Japanese manufacturer with operations spanning chemicals, homes, health care and electronics. Established in 1931, the company has grown from its origins in ammonia production to become a global supplier of advanced materials and solutions. Its broad product portfolio serves customers across Asia, Europe and the Americas, emphasizing innovation in polymer science, life sciences and residential construction.

Within its material science division, Asahi Kasei produces performance plastics, synthetic fibers and specialty chemicals used in automotive, consumer goods and industrial applications.