Toray Industries (OTCMKTS:TRYIY) Trading Up 3% – Still a Buy?

Toray Industries Inc. (OTCMKTS:TRYIY)’s stock price was up 3% on Wednesday . The company traded as high as $16.35 and last traded at $16.35. Approximately 2,670 shares were traded during trading, a decline of 91% from the average daily volume of 31,224 shares. The stock had previously closed at $15.87.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Toray Industries to a “hold” rating in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Toray Industries Trading Down 1.3%

The company has a market cap of $11.86 billion, a PE ratio of 19.23 and a beta of 0.51. The stock’s 50 day moving average is $15.64 and its 200-day moving average is $14.72. The company has a quick ratio of 1.19, a current ratio of 1.87 and a debt-to-equity ratio of 0.27.

Toray Industries (OTCMKTS:TRYIY) last posted its earnings results on Thursday, August 6th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. Toray Industries had a net margin of 3.48% and a return on equity of 4.84%. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.03 billion. As a group, sell-side analysts anticipate that Toray Industries Inc. will post 0.79 EPS for the current year.

About Toray Industries

Toray Industries, Inc is a Japanese chemicals and advanced materials company founded in 1926. The company develops and manufactures products based on polymer chemistry, organic synthesis, biotechnology and nanotechnology for industrial and consumer applications.

Its businesses include synthetic fibers and textiles, engineering plastics, resin products, films, chemicals, carbon fiber and carbon-fiber composite materials, as well as electronic and information-related materials. Toray also provides water-treatment products, including reverse-osmosis membranes and other separation technologies, and develops pharmaceutical and medical products.

Toray serves customers in industries such as aerospace, automotive, electronics, construction, energy, healthcare and apparel.