Nitto Denko (OTCMKTS:NDEKY) Stock Rating Upgraded by The Goldman Sachs Group

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

Nitto Denko Price Performance

NDEKY stock opened at $24.75 on Thursday. The stock has a 50-day moving average price of $22.71 and a 200-day moving average price of $19.85. Nitto Denko has a 1-year low of $14.50 and a 1-year high of $25.74.

Nitto Denko (OTCMKTS:NDEKY) last released its earnings results on Monday, July 28th. The technology company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.54). The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. As a group, equities research analysts forecast that Nitto Denko will post 1.23 earnings per share for the current year.

Nitto Denko Company Profile

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.