Asahi Kasei (OTCMKTS:AHKSY) Hits New 52-Week High - Here's Why

Key Points

• Asahi Kasei's stock reached a new 52-week high of $17.28 with a trading volume of 304 shares.
• CLSA downgraded Asahi Kasei's rating from a "moderate buy" to a "hold," aligning with the average analyst rating of "hold."
• The company reported earnings per share of $0.45 for the last quarter, exceeding analysts' expectations, despite revenue falling short of consensus estimates.

Shares of Asahi Kasei Corp. (OTCMKTS:AHKSY - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $17.28 and last traded at $17.28, with a volume of 304 shares. The stock had previously closed at $17.00.

Wall Street Analysts Forecast Growth

Separately, CLSA cut shares of Asahi Kasei from a "moderate buy" rating to a "hold" rating in a research report on Thursday, June 5th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Asahi Kasei Stock Up 0.7%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.09 and a current ratio of 1.83. The stock has a market capitalization of $11.44 billion, a P/E ratio of 14.16 and a beta of 0.46. The stock's fifty day simple moving average is $14.88 and its two-hundred day simple moving average is $14.12.

Asahi Kasei (OTCMKTS:AHKSY - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.18. Asahi Kasei had a return on equity of 7.48% and a net margin of 3.95%.The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $5.15 billion.

Asahi Kasei Company Profile

Asahi Kasei Corporation manufactures and sells chemicals. It offers caustic soda, chemical fertilizers, nitric acid, ammonia, acrylonitrile, methyl methacrylate, styrene, adipic acid, hexamethylene diamine, AH salt, propionitrile, sodium cyanide, acetonitrile, methacrylonitrile, cyclohexyl methacrylate, polyethylenes, polyethylenes powder, PMMA resin, polystyrene, polybutadiene rubbers, styrene/butadiene rubbers, clear styrenic copolymer, styrenic thermoplastic elastomer, hydrogenated styrenic elastomers, membranes and systems, functional materials, foams, purging compound, polyisocyanates, polycarbonatediol, aluminum paste, latex, photopolymers and platemaking systems, films, cyclohexanol, cyclohexane, and cyclohexene.