Aisin Seiki (OTCMKTS:ASEKY) Shares Gap Down - Here's What Happened

Key Points

• Shares of Aisin Seiki gapped down before the open to $13.40 from $14.25, a roughly 7.3% decline on Thursday with about 19,600 shares traded.
• Zacks Research downgraded the stock from a Hold to a strong sell, and MarketBeat shows a consensus rating of "Reduce" (one Hold, one Sell).
• The company reported quarterly EPS of $0.33 versus a $0.49 consensus (an EPS miss) while revenue beat at $8.33 billion versus $8.03 billion; analysts expect full-year EPS of about $0.89.

Shares of Aisin Seiki Co. Ltd. Unsponsored ADR (OTCMKTS:ASEKY - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $14.25, but opened at $13.40. Aisin Seiki shares last traded at $13.40, with a volume of 19,601 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research lowered Aisin Seiki from a "hold" rating to a "strong sell" rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce".

Aisin Seiki Stock Down 7.3%

The firm's 50-day moving average price is $15.56 and its 200 day moving average price is $17.10. The firm has a market cap of $11.36 billion, a P/E ratio of 10.25 and a beta of 0.49. The company has a quick ratio of 1.17, a current ratio of 1.74 and a debt-to-equity ratio of 0.22.

Aisin Seiki (OTCMKTS:ASEKY - Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.16). The firm had revenue of $8.33 billion for the quarter, compared to the consensus estimate of $8.03 billion. Aisin Seiki had a return on equity of 7.21% and a net margin of 3.26%. As a group, research analysts expect that Aisin Seiki Co. Ltd. Unsponsored ADR will post 0.89 earnings per share for the current year.

About Aisin Seiki

Aisin Seiki Co, Ltd., commonly known as Aisin, is a Japanese automotive parts manufacturer founded in 1949 and headquartered in Anjo, Aichi Prefecture. Originally established to supply repair parts for Toyota Motor Corporation, Aisin has grown into one of the world's largest Tier-1 suppliers, delivering a broad portfolio of components to leading original equipment manufacturers (OEMs) across the globe.

The company's core business centers on the design and production of automotive systems and components.

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