Asahi Kasei (OTCMKTS:AHKSY) Shares Gap Up – Still a Buy?

Asahi Kasei Corp. (OTCMKTS:AHKSY) shares gapped up before the market opened on Tuesday . The stock had previously closed at $20.96, but opened at $22.32. Asahi Kasei shares last traded at $21.40, with a volume of 1,039 shares traded.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised Asahi Kasei from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Asahi Kasei currently has a consensus rating of “Moderate Buy”.

Asahi Kasei Stock Up 2.9%

The company has a quick ratio of 1.23, a current ratio of 2.11 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $15.03 billion, a price-to-earnings ratio of 14.10 and a beta of 0.41. The business’s 50-day moving average is $20.59 and its 200-day moving average is $17.91.

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.