Asahi Kasei (OTCMKTS:AHKSY) Shares Gap Up After Analyst Upgrade

Asahi Kasei Corp. (OTCMKTS:AHKSY)’s stock price gapped up prior to trading on Thursday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $19.56, but opened at $20.92. Asahi Kasei shares last traded at $20.5020, with a volume of 1,058 shares trading hands.

Separately, The Goldman Sachs Group raised shares of Asahi Kasei from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Asahi Kasei presently has a consensus rating of “Buy”.

Asahi Kasei Price Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 1.23. The company’s 50 day simple moving average is $21.13 and its 200 day simple moving average is $18.60. The stock has a market cap of $14.27 billion, a P/E ratio of 13.39 and a beta of 0.47.

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.