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, Zacks.com 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.

About NITTO DENKO COR/ADR

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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