Nitto Denko (NDEKY) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Nitto Denko (OTCMKTS:NDEKY) from a buy rating to a hold rating in a report released on Thursday.

According to Zacks, “Nitto Denko Corporation is a provider of electrical insulating materials such as double-coated tapes, sealing materials, masking tapes, surface protection materials and non-skid tapes in diverse segments of industry. Its products are designed to assure safety in offices and buildings, precision machinery, machinery & equipment used in production process, and actual work sites. The Company’s technologies and products include reinforcing, vibration-damping and sealing materials. It supplies a whole variety of adhesive tapes in medical and athletic areas. Nitto Denko Group has an extensive lineup of electronics-related products such as optical films, flexible printed circuits, thin-film metal circuit boards and semiconductor encapsulating resins which are applied to various devices including wide-screen LCD TVs, personal computers, cell phones, handheld game consoles, portable audio players, hard disk drives and so on. Nitto Denko Corporation is headquartered in Osaka, Japan. “

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Shares of OTCMKTS:NDEKY opened at $37.58 on Thursday. Nitto Denko has a 12 month low of $36.05 and a 12 month high of $51.66. The firm has a market cap of $13,205.65, a P/E ratio of 15.20, a P/E/G ratio of 1.51 and a beta of 0.77.

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About Nitto Denko

Nitto Denko Corporation primarily engages in the adhesive tapes business in Japan and internationally. It provides double sided tapes, surface protective films, sealing materials/NVH related products, masking tapes, membranes, FPD/touch panel related products, gasket materials, semiconductor manufacturing process products, flexible printed circuit boards, porous films/breathable materials, and packaging tapes.

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