Asahi Kasei (OTCMKTS:AHKSY) Hits New 12-Month High – Here’s Why

Asahi Kasei Corp. (OTCMKTS:AHKSY) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $19.6550 and last traded at $19.6550, with a volume of 2745 shares traded. The stock had previously closed at $19.4950.

Wall Street Analyst Weigh In

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

Asahi Kasei Stock Up 4.8%

The stock has a market cap of $13.94 billion, a P/E ratio of 14.60 and a beta of 0.41. The company’s 50 day moving average price is $17.85 and its two-hundred day moving average price is $16.39. The company has a quick ratio of 1.26, a current ratio of 2.20 and a debt-to-equity ratio of 0.46.

Asahi Kasei (OTCMKTS:AHKSY) last issued its earnings results on Wednesday, November 5th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). Asahi Kasei had a net margin of 4.64% and a return on equity of 7.41%. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.12 billion.

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.