Nitto Denko (OTCMKTS:NDEKY) Cut to Hold at Zacks Investment Research

Nitto Denko (OTCMKTS:NDEKY – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

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. “

Shares of Nitto Denko stock opened at $34.11 on Wednesday. The firm has a market cap of $10.22 billion, a PE ratio of 11.97 and a beta of 1.20. The firm’s 50-day simple moving average is $35.32 and its 200-day simple moving average is $36.75. Nitto Denko has a 1 year low of $32.46 and a 1 year high of $44.42.

Nitto Denko (OTCMKTS:NDEKY – Get Rating) last announced its quarterly earnings data on Wednesday, January 26th. The technology company reported $0.77 earnings per share for the quarter. Nitto Denko had a net margin of 11.02% and a return on equity of 12.48%. The business had revenue of $1.94 billion during the quarter. Equities analysts expect that Nitto Denko will post 2.9 EPS for the current year.

Nitto Denko Company Profile (Get Rating)

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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