Aisin Seiki (OTCMKTS:ASEKY) Shares Gap Down – Here’s Why

Aisin Seiki Co. Ltd. Unsponsored ADR (OTCMKTS:ASEKY) shares gapped down before the market opened on Tuesday . The stock had previously closed at $15.1410, but opened at $14.2750. Aisin Seiki shares last traded at $14.2750, with a volume of 2,382 shares traded.

Analysts Set New Price Targets

A number of brokerages have commented on ASEKY. The Goldman Sachs Group upgraded shares of Aisin Seiki from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 29th. Zacks Research raised Aisin Seiki from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Aisin Seiki presently has an average rating of “Buy”.

Aisin Seiki Stock Up 0.0%

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.79 and a quick ratio of 1.28. The stock has a market capitalization of $10.36 billion, a P/E ratio of 9.84 and a beta of 0.51. The firm has a 50-day simple moving average of $13.99 and a 200 day simple moving average of $14.91.

Aisin Seiki (OTCMKTS:ASEKY) last announced its earnings results on Friday, July 31st. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Aisin Seiki had a return on equity of 6.65% and a net margin of 3.14%.The business had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $7.89 billion. On average, equities research analysts forecast that Aisin Seiki Co. Ltd. Unsponsored ADR will post 1.4 EPS for the current year.

About Aisin Seiki

Aisin Seiki Co, Ltd., commonly known as Aisin, is a Japanese automotive parts manufacturer founded in 1949 and headquartered in Anjo, Aichi Prefecture. Originally established to supply repair parts for Toyota Motor Corporation, Aisin has grown into one of the world’s largest Tier-1 suppliers, delivering a broad portfolio of components to leading original equipment manufacturers (OEMs) across the globe.

The company’s core business centers on the design and production of automotive systems and components.