SMC (OTCMKTS:SMCAY) Stock Jumps 4.5% – Time to Buy?

Smc Corporation (OTCMKTS:SMCAY)’s share price shot up 4.5% during trading on Friday. The company traded as high as $22.10 and last traded at $22.00. Approximately 13,145 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 301,044 shares. The stock had previously closed at $21.0550.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Zacks Research upgraded SMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Jefferies Financial Group raised shares of SMC from a “buy” rating to a “buy” rating in a research report on Tuesday, June 16th. Finally, The Goldman Sachs Group downgraded shares of SMC from a “strong-buy” rating to a “neutral” rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, SMC presently has a consensus rating of “Buy”.

SMC Stock Up 2.1%

The firm has a market cap of $28.01 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 1.48 and a beta of 1.09. The business has a 50 day moving average price of $22.22 and a 200-day moving average price of $21.95.

SMC (OTCMKTS:SMCAY) last released its quarterly earnings results on Friday, August 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. SMC had a return on equity of 9.40% and a net margin of 21.94%.The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Research analysts anticipate that Smc Corporation will post 1.1 earnings per share for the current fiscal year.

About SMC

SMC Corporation is a Japan-based manufacturer of pneumatic and automation equipment used in factory automation and industrial production systems. Its products help control the movement, pressure, flow and handling of air and other fluids in manufacturing processes.

The company’s product portfolio includes pneumatic cylinders and actuators, control valves, air-preparation equipment, fittings, tubing, vacuum equipment, sensors and related automation components. SMC also offers electric actuators and equipment for specialized applications, including process control, cleanroom manufacturing and material handling.

Founded in 1959 as Sintered Metal Corporation, the company adopted the name SMC Corporation in 1985.