Zacks Investment Research upgraded shares of Nidec Co. (NASDAQ:NJDCY) from a hold rating to a buy rating in a report issued on Tuesday morning. The brokerage currently has $34.00 target price on the stock.

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. “

Shares of Nidec (NJDCY) traded up 0.49% during midday trading on Tuesday, hitting $30.82. 67,970 shares of the stock traded hands. The company has a market cap of $36.50 billion and a price-to-earnings ratio of 33.72. The stock has a 50-day moving average of $28.29 and a 200-day moving average of $25.35. Nidec has a 52-week low of $20.95 and a 52-week high of $31.41.

Nidec (NASDAQ:NJDCY) last posted its quarterly 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 company had revenue of $3.09 billion during the quarter. On average, equities analysts predict that Nidec will post $0.79 earnings per share for the current fiscal year.

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About Nidec

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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