Zacks Investment Research upgraded shares of NITTO DENKO COR/ADR (OTCMKTS:NDEKY) from a hold rating to a strong-buy rating in a report published on Wednesday, Zacks.com reports. The firm currently has $27.00 price objective on the technology company’s stock.
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, Jefferies Financial Group lowered NITTO DENKO COR/ADR from a buy rating to a hold rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $27.00.
Shares of NDEKY stock opened at $22.46 on Wednesday. NITTO DENKO COR/ADR has a 52-week low of $21.38 and a 52-week high of $39.37. The firm has a market capitalization of $7.09 billion, a PE ratio of 11.76 and a beta of 1.47. The stock has a fifty day simple moving average of $23.74 and a two-hundred day simple moving average of $25.01.
About NITTO DENKO COR/ADR
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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