Alps Electric (OTCMKTS:APELY) Stock Falls 15.9% - Here's Why

Key Points

• Alps Electric shares fell 15.9% to $23.72 in mid-day trading, with volume down 45% from the average session.
• Despite the selloff, Zacks Research upgraded the stock from “hold” to “strong buy,” and the company has an average analyst rating of “Strong Buy.”
• The decline followed weak quarterly results: Alps Electric reported a loss of $0.21 per share versus expectations for $0.02 in earnings and revenue of $1.49 billion, below the $1.52 billion consensus.

Alps Electric (OTCMKTS:APELY - Get Free Report)'s share price traded down 15.9% during mid-day trading on Tuesday. The company traded as low as $23.72 and last traded at $23.72. Approximately 1,084 shares were traded during trading, a decline of 45% from the average session volume of 1,981 shares. The stock had previously closed at $28.19.

Analyst Upgrades and Downgrades

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

Alps Electric Trading Down 0.7%

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a fifty day simple moving average of $28.13 and a 200-day simple moving average of $27.30. The firm has a market cap of $2.47 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 1.63 and a beta of 0.43.

Alps Electric (OTCMKTS:APELY - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.23). Alps Electric had a net margin of 2.64% and a return on equity of 7.24%. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.52 billion. On average, equities research analysts expect that Alps Electric will post 2.11 earnings per share for the current year.

Alps Electric Company Profile

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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