Toray Industries (OTCMKTS:TRYIY) Cut to Hold at UBS Group

UBS Group downgraded shares of Toray Industries (OTCMKTS:TRYIY) from a strong-buy rating to a hold rating in a report released on Thursday,Zacks.com reports.

Separately, Nomura Securities upgraded shares of Toray Industries to a “hold” rating in a report on Friday, June 6th.

Toray Industries Trading Down 1.1%

Toray Industries stock opened at $13.03 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.70 and a debt-to-equity ratio of 0.26. Toray Industries has a 12 month low of $9.06 and a 12 month high of $14.80. The business has a 50 day moving average price of $13.51 and a two-hundred day moving average price of $13.35. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of 20.35 and a beta of 0.56.

Toray Industries (OTCMKTS:TRYIY) last released its quarterly earnings results on Wednesday, May 14th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.09). Toray Industries had a net margin of 3.04% and a return on equity of 4.26%. The business had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.42 billion. As a group, equities analysts forecast that Toray Industries will post 0.73 EPS for the current year.

About Toray Industries

Toray Industries, Inc, together with its subsidiaries, manufactures, processes, and sells fibers and textiles, performance chemicals, carbon fiber composite materials, environment and engineering products, and life science products in Japan, China, North America, Europe, and internationally. The company offers filament yarns, staple fibers, and spun yarns, as well as woven and knitted fabrics of nylon, polyester, acrylics, and others; non-woven fabrics; ultra-fine fibers; and apparel products.