Zacks Investment Research Upgrades Nidec Co. (NJDCY) to “Buy”
Nidec Co. (NASDAQ:NJDCY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $32.00 price target on the stock. Zacks Investment Research‘s price objective points to a potential upside of 3.26% from the stock’s current price.
According to Zacks, “Nidec Corp and its subsidiaries are primarily engaged in the design, development, manufacturing and marketing of i) small precision motors, ii) mid-size motors, iii) machinery and power supplies, and iv) other products, which include auto parts, pivot assemblies, encoders and other services. Manufacturing operations are located primarily in Asia and they have sales subsidiaries in Asia, North America and Europe. “
Nidec (NJDCY) opened at 30.99 on Tuesday. The stock’s 50 day moving average is $28.29 and its 200-day moving average is $25.35. The firm has a market capitalization of $36.70 billion and a price-to-earnings ratio of 33.91. Nidec has a 12 month low of $20.95 and a 12 month high of $29.23.
Nidec (NASDAQ:NJDCY) last posted its earnings results on Wednesday, July 26th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. Nidec had a net margin of 7.41% and a return on equity of 10.73%. The business had revenue of $3.09 billion for the quarter. Equities analysts anticipate that Nidec will post $0.79 earnings per share for the current fiscal year.
Nidec Company Profile
Nidec Corporation is engaged in manufacturing of electric motors and related components and equipment. The Company focuses on providing brushless direct current (DC) motors for the information technology (IT) industry. The Company operates through nine segments: Nidec Corporation, Nidec Electronics (Thailand), Nidec Singapore, Nidec (H.K.), Nidec Sankyo, Nidec Copal, Nidec Techno Motor, Nidec Motor, and Nidec Motors & Actuators.
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