Alps Electric (OTCMKTS:APELY) Shares Break Above 200 Day Moving Average – Here’s Why

Shares of Alps Electric (OTCMKTS:APELY) crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $27.32 and traded as high as $28.85. Alps Electric shares last traded at $28.19, with a volume of 2,606 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Alps Electric from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat, Alps Electric presently has a consensus rating of “Strong Buy”.

Alps Electric Stock Performance

The firm has a fifty day moving average of $28.19 and a 200-day moving average of $27.32. The firm has a market cap of $2.93 billion, a P/E ratio of 16.20, a PEG ratio of 1.61 and a beta of 0.43. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.12.

Alps Electric (OTCMKTS:APELY) last released its earnings results on Friday, October 30th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Alps Electric had a net margin of 2.64% and a return on equity of 7.24%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.86 billion. Research analysts predict that Alps Electric will post 2.11 earnings per share for the current fiscal year.

About Alps Electric

Alps Electric Co, Ltd., now known as Alps Alpine Co, Ltd., is a Japanese manufacturer of electronic components and systems. The company develops products for the automotive, mobile communications, consumer electronics, and industrial markets.

Its product portfolio includes switches and other human-machine interface components, sensors, encoders, connectivity and communication modules, magnetic components, and power-related devices. Through its automotive business, Alps Alpine also supplies electronic control, infotainment, display, sensing, and connectivity solutions for vehicle manufacturers and suppliers.

The company traces its origins to Japan in the late 1940s and expanded internationally as demand grew for electronic components.