Toray Industries (OTCMKTS:TRYIY) Shares Gap Down – What’s Next?

Toray Industries Inc. (OTCMKTS:TRYIY)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $16.16, but opened at $15.6350. Toray Industries shares last traded at $15.8272, with a volume of 4,791 shares changing hands.

Analysts Set New Price Targets

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

Toray Industries Price Performance

The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of 19.43 and a beta of 0.50. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average price of $14.93 and a 200 day moving average price of $14.80.

Toray Industries (OTCMKTS:TRYIY) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.07. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.03 billion. Toray Industries had a return on equity of 4.82% and a net margin of 3.48%. As a group, equities research analysts forecast that Toray Industries Inc. will post 0.79 earnings per share for the current year.

About Toray Industries

Toray Industries, Inc is a global leader in advanced materials and chemical technologies, headquartered in Tokyo, Japan. The company’s core operations span five business segments: fibers & textiles, performance chemicals, carbon fiber composite materials, environment & engineering, and life sciences. Toray serves a diverse range of industries, including automotive, aerospace, electronics, construction, healthcare and water treatment, leveraging its material innovation to meet evolving market demands.

In the fibers & textiles division, Toray develops synthetic fibers and high-performance fabrics for applications such as apparel, industrial materials and automotive interiors.