NITTO DENKO COR/ADR (OTCMKTS:NDEKY) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of NITTO DENKO COR/ADR (OTCMKTS:NDEKY) from a buy rating to a hold rating in a research report report published on Wednesday morning, reports.

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. “

Separately, Goldman Sachs Group cut NITTO DENKO COR/ADR from a neutral rating to a sell rating in a report on Friday, April 19th.

Shares of NDEKY opened at $23.83 on Wednesday. NITTO DENKO COR/ADR has a 12-month low of $21.38 and a 12-month high of $39.37. The stock has a 50-day moving average price of $23.50. The firm has a market cap of $7.59 billion, a PE ratio of 12.48 and a beta of 1.47.

NITTO DENKO COR/ADR (OTCMKTS:NDEKY) last issued its earnings results on Friday, April 26th. The technology company reported $0.17 earnings per share (EPS) for the quarter. NITTO DENKO COR/ADR had a return on equity of 9.68% and a net margin of 8.24%. The business had revenue of $1.60 billion during the quarter. On average, equities analysts anticipate that NITTO DENKO COR/ADR will post 1.51 earnings per share for the current year.


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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