Toray Industries (OTCMKTS:TRYIY) Trading 3% Higher – Here’s Why

Shares of Toray Industries Inc. (OTCMKTS:TRYIY) rose 3% during trading on Wednesday . The company traded as high as $16.35 and last traded at $16.35. 2,670 shares traded hands during trading, a decline of 91% from the average daily volume of 31,224 shares. The stock had previously closed at $15.87.

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 research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Toray Industries currently has a consensus rating of “Buy”.

Toray Industries Stock Performance

The company has a market cap of $11.86 billion, a PE ratio of 19.23 and a beta of 0.51. The company has a current ratio of 1.87, a quick ratio of 1.19 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $15.64 and its two-hundred day moving average is $14.72.

Toray Industries (OTCMKTS:TRYIY) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. Toray Industries had a return on equity of 4.84% and a net margin of 3.48%.The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.03 billion. On average, equities research analysts anticipate that Toray Industries Inc. will post 0.79 EPS for the current 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.