Toray Industries (OTCMKTS:TRYIY) Shares Up 3% – Here’s Why

Toray Industries Inc. (OTCMKTS:TRYIY)’s share price was up 3% on Wednesday. The company traded as high as $16.35 and last traded at $16.35. 2,670 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 31,224 shares. The stock had previously closed at $15.87.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Toray Industries to a “hold” rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Toray Industries Stock Performance

The business’s fifty day moving average price is $15.70 and its 200-day moving average price is $14.73. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.87 and a quick ratio of 1.19. The stock has a market capitalization of $11.83 billion, a PE ratio of 19.17 and a beta of 0.51.

Toray Industries (OTCMKTS:TRYIY) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.20 by $0.07. Toray Industries had a net margin of 3.48% and a return on equity of 4.84%. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.03 billion. As a group, equities research analysts expect that Toray Industries Inc. will post 0.79 EPS for the current year.

Toray Industries Company Profile

Toray Industries, Inc is a Japanese chemicals and advanced materials company founded in 1926. The company develops and manufactures products based on polymer chemistry, organic synthesis, biotechnology and nanotechnology for industrial and consumer applications.

Its businesses include synthetic fibers and textiles, engineering plastics, resin products, films, chemicals, carbon fiber and carbon-fiber composite materials, as well as electronic and information-related materials. Toray also provides water-treatment products, including reverse-osmosis membranes and other separation technologies, and develops pharmaceutical and medical products.

Toray serves customers in industries such as aerospace, automotive, electronics, construction, energy, healthcare and apparel.