Toray Industries (OTCMKTS:TRYIY) Shares Gap Up – Still a Buy?

Toray Industries Inc. (OTCMKTS:TRYIY)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $12.06, but opened at $13.41. Toray Industries shares last traded at $12.95, with a volume of 2,016 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, UBS Group cut Toray Industries from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Toray Industries Price Performance

The company has a market cap of $10.56 billion, a PE ratio of 22.73 and a beta of 0.55. The company has a quick ratio of 1.07, a current ratio of 1.69 and a debt-to-equity ratio of 0.25. The firm has a 50 day simple moving average of $12.71 and a 200-day simple moving average of $13.17.

Toray Industries (OTCMKTS:TRYIY) last released its quarterly earnings results on Friday, November 14th. The company reported $0.18 earnings per share (EPS) for the quarter. Toray Industries had a net margin of 2.72% and a return on equity of 3.76%. As a group, research analysts predict that Toray Industries Inc. will post 0.73 earnings per share for the current fiscal 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.