Hitachi (OTCMKTS:HTHIY) Sees Unusually-High Trading Volume – Should You Buy?

Hitachi Ltd. (OTCMKTS:HTHIY) saw unusually-strong trading volume on Wednesday. 1,140,538 shares traded hands during trading, an increase of 100% from the average daily volume of 569,260 shares. The stock last traded at $31.5772 and had previously closed at $31.60.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HTHIY. Zacks Research raised Hitachi from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 2nd. Sanford C. Bernstein began coverage on shares of Hitachi in a research note on Tuesday, September 15th. They set an “outperform” rating for the company. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

Hitachi Price Performance

The company has a current ratio of 1.09, a quick ratio of 0.83 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $34.82 and a 200 day simple moving average of $32.48. The stock has a market capitalization of $132.62 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.15 and a beta of 1.03.

Hitachi (OTCMKTS:HTHIY) last issued its earnings results on Wednesday, October 28th. The conglomerate reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The business had revenue of $18.40 billion during the quarter, compared to analyst estimates of $18.51 billion. Hitachi had a net margin of 6.53% and a return on equity of 10.94%. On average, equities research analysts forecast that Hitachi Ltd. will post 1.31 EPS for the current fiscal year.

Hitachi Company Profile

Hitachi Ltd. is a Japanese technology and industrial company that develops products, systems and services for businesses, governments and consumers. Its activities span digital services and information technology, energy systems, transportation, industrial equipment and building systems.

The company supplies software, IT and systems-integration services, power-grid and energy technologies, rail vehicles and signaling systems, and industrial machinery and automation solutions. Its portfolio also includes products and services for buildings, such as elevators and escalators.

Founded in 1910 by engineer Namihei Odaira in Hitachi, Japan, the company began with the manufacture of electric motors.