Toray Industries (OTCMKTS:TRYIY) Shares Gap Down – Here’s What Happened

Toray Industries Inc. (OTCMKTS:TRYIY) gapped down prior to trading on Tuesday . The stock had previously closed at $16.18, but opened at $15.4136. Toray Industries shares last traded at $15.4136, with a volume of 766 shares traded.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Toray Industries to a “hold” rating in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Toray Industries currently has an average rating of “Buy”.

Toray Industries Stock Down 0.8%

The company has a quick ratio of 1.19, a current ratio of 1.87 and a debt-to-equity ratio of 0.27. The business has a 50-day simple moving average of $15.42 and a two-hundred day simple moving average of $14.75. The stock has a market capitalization of $11.87 billion, a P/E ratio of 19.24 and a beta of 0.51.

Toray Industries (OTCMKTS:TRYIY) last issued its earnings results on Thursday, August 6th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.20 by $0.07. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.03 billion. Toray Industries had a net margin of 3.48% and a return on equity of 4.84%. Equities research analysts forecast that Toray Industries Inc. will post 0.79 earnings per share for the current fiscal year.

About Toray Industries

Toray Industries, Inc is a Japanese chemicals and advanced materials company founded in 1926. The company develops and manufactures products based on polymer chemistry, organic synthesis, biotechnology and nanotechnology for industrial and consumer applications.

Its businesses include synthetic fibers and textiles, engineering plastics, resin products, films, chemicals, carbon fiber and carbon-fiber composite materials, as well as electronic and information-related materials. Toray also provides water-treatment products, including reverse-osmosis membranes and other separation technologies, and develops pharmaceutical and medical products.

Toray serves customers in industries such as aerospace, automotive, electronics, construction, energy, healthcare and apparel.