Zacks Investment Research lowered shares of NITTO DENKO COR/ADR (OTCMKTS:NDEKY) from a strong-buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.
According to Zacks, “Nitto Denko Corporation is a provider of electrical insulating materials such as double-coated tapes, sealing materials, masking tapes, surface protection materials and non-skid tapes in diverse segments of industry. Its products are designed to assure safety in offices and buildings, precision machinery, machinery & equipment used in production process, and actual work sites. The Company’s technologies and products include reinforcing, vibration-damping and sealing materials. It supplies a whole variety of adhesive tapes in medical and athletic areas. Nitto Denko Group has an extensive lineup of electronics-related products such as optical films, flexible printed circuits, thin-film metal circuit boards and semiconductor encapsulating resins which are applied to various devices including wide-screen LCD TVs, personal computers, cell phones, handheld game consoles, portable audio players, hard disk drives and so on. Nitto Denko Corporation is headquartered in Osaka, Japan. “
NITTO DENKO COR/ADR stock opened at $27.97 on Wednesday. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 14.71 and a beta of 1.51. NITTO DENKO COR/ADR has a 52-week low of $21.38 and a 52-week high of $29.71. The stock’s 50 day moving average price is $28.42 and its two-hundred day moving average price is $25.76.
About NITTO DENKO COR/ADR
Nitto Denko Corporation primarily engages in the adhesive tapes business in Japan and internationally. It provides double sided tapes, surface protective films, sealing materials/NVH related products, masking tapes, membranes, FPD/touch panel related products, gasket materials, semiconductor manufacturing process products, flexible printed circuit boards, porous films/breathable materials, and packaging tapes.
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