Industria de Diseno Textil (OTCMKTS:IDEXY) Sees Unusually-High Trading Volume Following Analyst Upgrade

Key Points

• Industria de Diseno Textil SA (OTCMKTS:IDEXY) experienced a surge in trading volume after the Royal Bank of Canada upgraded its rating from strong sell to hold.
• Berenberg Bank also upgraded the stock to a strong-buy rating, contributing to a consensus average rating of Strong Buy from analysts.
• The company reported quarterly earnings of $0.23 per share, which fell short of estimates, while its revenue of $9.45 billion surpassed analyst expectations of $8.53 billion.

Industria de Diseno Textil SA (OTCMKTS:IDEXY - Get Free Report) saw unusually-high trading volume on Thursday after Royal Bank Of Canada upgraded the stock from a strong sell rating to a hold rating. Approximately 757,929 shares traded hands during trading, a decline of 7% from the previous session's volume of 816,963 shares.The stock last traded at $13.59 and had previously closed at $13.40.

Separately, Berenberg Bank upgraded shares of Industria de Diseno Textil to a "strong-buy" rating in a research note on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Strong Buy".

Industria de Diseno Textil Trading Up 1.4%

The company has a market cap of $169.42 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.50 and a beta of 1.14. The business has a fifty day moving average of $12.50 and a two-hundred day moving average of $20.99.

Industria de Diseno Textil (OTCMKTS:IDEXY - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). The company had revenue of $9.45 billion for the quarter, compared to analyst estimates of $8.53 billion. Industria de Diseno Textil had a return on equity of 32.39% and a net margin of 15.19%. On average, research analysts forecast that Industria de Diseno Textil SA will post 0.99 EPS for the current fiscal year.

About Industria de Diseno Textil

Industria de Diseño Textil, SA engages in the retail and online distribution of clothing, footwear, accessories, and household products. The company sells its products under the Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, and Zara Home brands. It is also involved in the textile manufacturing, logistics, design, insurance, construction, and real estate businesses, as well as provides financial services.

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