Asahi Kasei (OTCMKTS:AHKSY) Reaches New 1-Year High – Time to Buy?

Shares of Asahi Kasei Corp. (OTCMKTS:AHKSY) hit a new 52-week high during trading on Wednesday . The stock traded as high as $24.12 and last traded at $23.9782, with a volume of 1357 shares traded. The stock had previously closed at $22.50.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Asahi Kasei to a “hold” rating in a report on Thursday, October 30th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Asahi Kasei Price Performance

The company has a market cap of $16.40 billion, a P/E ratio of 15.38 and a beta of 0.43. The company’s 50-day moving average price is $19.68 and its two-hundred day moving average price is $17.46. The company has a current ratio of 2.11, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42.

Asahi Kasei Company Profile

Asahi Kasei Corp., headquartered in Tokyo, is a diversified Japanese manufacturer with operations spanning chemicals, homes, health care and electronics. Established in 1931, the company has grown from its origins in ammonia production to become a global supplier of advanced materials and solutions. Its broad product portfolio serves customers across Asia, Europe and the Americas, emphasizing innovation in polymer science, life sciences and residential construction.

Within its material science division, Asahi Kasei produces performance plastics, synthetic fibers and specialty chemicals used in automotive, consumer goods and industrial applications.