Asahi Kasei (OTCMKTS:AHKSY) Stock Price Up 12.6% – Time to Buy?

Asahi Kasei Corp. (OTCMKTS:AHKSY) shares shot up 12.6% during mid-day trading on Wednesday . The stock traded as high as $22.03 and last traded at $22.03. 4,687 shares changed hands during trading, a decline of 85% from the average session volume of 30,294 shares. The stock had previously closed at $19.56.

Analysts Set New Price Targets

Several research firms recently issued reports on AHKSY. The Goldman Sachs Group upgraded Asahi Kasei from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Zacks Research upgraded Asahi Kasei from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

Asahi Kasei Trading Up 7.9%

The stock has a market capitalization of $15.70 billion, a P/E ratio of 14.72 and a beta of 0.49. The stock has a 50-day moving average price of $20.08 and a two-hundred day moving average price of $19.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 2.11.

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.