Aisin Seiki (OTCMKTS:ASEKY) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Aisin Seiki Co. Ltd. Unsponsored ADR (OTCMKTS:ASEKY) shares crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $14.37 and traded as high as $14.44. Aisin Seiki shares last traded at $14.44, with a volume of 258 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Aisin Seiki from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy”.

Aisin Seiki Trading Up 8.5%

The stock has a market cap of $10.48 billion, a P/E ratio of 10.86 and a beta of 0.59. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.79 and a quick ratio of 1.27. The firm’s 50 day moving average price is $14.37 and its 200-day moving average price is $14.77.

Aisin Seiki (OTCMKTS:ASEKY) last issued its earnings results on Thursday, October 29th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.09). The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.39 billion. Aisin Seiki had a net margin of 2.87% and a return on equity of 6.12%. As a group, equities research analysts forecast that Aisin Seiki Co. Ltd. Unsponsored ADR will post 1.25 earnings per share for the current year.

About Aisin Seiki

Aisin Seiki Co, Ltd., now known as Aisin Corporation, is a Japanese manufacturer of automotive components and systems. The company develops and produces automatic and manual transmissions, hybrid and electric vehicle drive systems, engines and engine components, braking systems, chassis components, and body-related products. It also offers aftermarket parts and services for vehicles.

Established in 1965, Aisin became a major supplier to Toyota and other global vehicle manufacturers. Its products are used in passenger cars, commercial vehicles, and other mobility applications, while its business has expanded to include components designed for electrified vehicles and connected mobility.

Aisin serves automotive customers through manufacturing, engineering, and sales operations in Japan and international markets, including North America, Europe, and Asia.