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

Zacks Investment Research cut shares of NITTO DENKO COR/ADR (OTCMKTS:NDEKY) from a buy rating to a hold rating in a report published on Wednesday, 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 downgraded NITTO DENKO COR/ADR from a neutral rating to a sell rating in a research note on Friday, April 19th.

NDEKY opened at $23.83 on Wednesday. The firm has a fifty day moving average price of $23.50. The company has a market cap of $7.59 billion, a P/E ratio of 12.48 and a beta of 1.47. NITTO DENKO COR/ADR has a 1 year low of $21.38 and a 1 year high of $39.37.

NITTO DENKO COR/ADR (OTCMKTS:NDEKY) last released its quarterly earnings results on Friday, April 26th. The technology company reported $0.17 earnings per share (EPS) for the quarter. The business had revenue of $1.60 billion during the quarter. NITTO DENKO COR/ADR had a return on equity of 9.68% and a net margin of 8.24%. As a group, sell-side analysts forecast that NITTO DENKO COR/ADR will post 1.51 EPS for the current fiscal 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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