Hoya (OTCMKTS:HOCPY) Shares Gap Up – Time to Buy?

Hoya Corp. (OTCMKTS:HOCPY)’s stock price gapped up before the market opened on Friday. The stock had previously closed at $159.31, but opened at $167.24. Hoya shares last traded at $162.32, with a volume of 15,400 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Hoya from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating. According to MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Hoya Trading Up 1.9%

The company has a quick ratio of 4.20, a current ratio of 4.91 and a debt-to-equity ratio of 0.03. The stock has a market cap of $54.34 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 3.28 and a beta of 0.97. The business has a 50-day moving average of $154.70 and a 200-day moving average of $163.37.

Hoya (OTCMKTS:HOCPY) last posted its earnings results on Friday, July 31st. The technology company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.10. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.55 billion. Hoya had a net margin of 27.58% and a return on equity of 25.78%. As a group, research analysts forecast that Hoya Corp. will post 5.26 earnings per share for the current year.

About Hoya

Hoya Corporation (OTCMKTS:HOCPY) is a Japan-based technology and healthcare company that develops and manufactures optical products and precision components. Its businesses serve the vision care, medical, semiconductor, and imaging industries.

Hoya’s life-care products include eyeglass lenses, contact lens-care products, intraocular lenses used in cataract surgery, and medical equipment such as endoscopic systems. The company also provides optical components and related products for cameras, microscopes, and other imaging applications.

Through its information-technology businesses, Hoya supplies photomasks and other high-precision materials used in semiconductor manufacturing, as well as glass substrates and optical components for data storage and communications applications.