Alps Electric (OTCMKTS:APELY) Shares Gap Up - Time to Buy?

Key Points

• Alps Electric shares jumped 7.5%, opening at $26.925 versus a prior close of $25.05, though trading volume was very low at 179 shares.
• Zacks Research upgraded the stock from “hold” to “strong buy,” giving Alps Electric an overall “Strong Buy” rating based on one analyst’s coverage.
• The company’s latest quarterly results were weaker than expected, with a $0.21-per-share loss versus a projected $0.02 profit and revenue of $1.49 billion compared with the $1.52 billion consensus estimate.

Alps Electric (OTCMKTS:APELY - Get Free Report)'s stock price gapped up before the market opened on Wednesday. The stock had previously closed at $25.05, but opened at $26.9250. Alps Electric shares last traded at $26.9250, with a volume of 179 shares traded.

Analyst Ratings Changes

Separately, Zacks Research upgraded Alps Electric from a "hold" rating to a "strong-buy" rating in a report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating. According to MarketBeat, Alps Electric presently has an average rating of "Strong Buy".

Alps Electric Trading Up 7.5%

The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 1.52 and a beta of 0.43. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.32 and a current ratio of 1.95. The firm has a fifty day moving average of $28.17 and a 200-day moving average of $27.32.

Alps Electric (OTCMKTS:APELY - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.23). Alps Electric had a return on equity of 7.24% and a net margin of 2.64%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.52 billion. As a group, equities 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.

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