Nitto Denko (OTCMKTS:NDEKY) Raised to “Strong-Buy” at The Goldman Sachs Group

Nitto Denko (OTCMKTS:NDEKY) was upgraded by analysts at The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Nitto Denko Stock Performance

Shares of Nitto Denko stock opened at $24.75 on Thursday. Nitto Denko has a fifty-two week low of $14.50 and a fifty-two week high of $25.74. The company’s 50 day moving average price is $22.71 and its two-hundred day moving average price is $19.85.

Nitto Denko (OTCMKTS:NDEKY) last issued its earnings results on Monday, July 28th. The technology company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.54). The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. On average, research analysts anticipate that Nitto Denko will post 1.23 EPS for the current year.

About Nitto Denko

Nitto Denko Corporation primarily engages in the adhesive tapes business in Japan, the Americas, Europe, Asia, and Oceania. It provides double sided tapes, surface protective films, sealing materials, 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.