SMC (OTCMKTS:SMCAY) Shares Gap Up – Still a Buy?

Smc Corporation (OTCMKTS:SMCAY)’s stock price gapped up before the market opened on Friday. The stock had previously closed at $22.80, but opened at $24.22. SMC shares last traded at $23.70, with a volume of 556,143 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently commented on SMCAY. Zacks Research raised shares of 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 report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

SMC Stock Up 4.3%

The stock has a market capitalization of $30.36 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 1.56 and a beta of 1.11. The company’s 50-day moving average is $22.30 and its 200-day moving average is $22.00.

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

SMC Company Profile

SMC Corporation is a Japan-based manufacturer of pneumatic and industrial automation equipment. The company develops products used to control, move and regulate compressed air and other gases in manufacturing and process applications.

Its product portfolio includes pneumatic actuators, valves, air-preparation equipment, fittings, tubing, vacuum equipment, sensors and temperature-control systems. These products support factory automation and are used across industries such as automotive, electronics, semiconductor manufacturing, packaging, food processing and general industrial production.

Founded in Japan in 1959, SMC has expanded from its domestic base into an international business serving customers through subsidiaries, sales offices and distribution networks across Asia, Europe, North America and other regions.