Subaru (OTCMKTS:FUJHY) Shares Pass Above Fifty Day Moving Average - What's Next?

Key Points

• Subaru's stock recently crossed above its 50-day moving average of $10.20, reaching a high of $10.35, indicating positive momentum in trading.
• The Goldman Sachs Group upgraded Subaru’s rating from "neutral" to "buy", reflecting increasing confidence in the company's performance.
• Subaru reported a quarterly EPS of $0.26, exceeding analysts' expectations and highlighting strong revenue growth of $8.23 billion compared to forecasts of $7.32 billion.

Subaru Corporation (OTCMKTS:FUJHY - Get Free Report) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $10.20 and traded as high as $10.35. Subaru shares last traded at $10.26, with a volume of 69,524 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised Subaru from a "neutral" rating to a "buy" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Subaru currently has an average rating of "Hold".

Subaru Stock Up 0.5%

The company has a fifty day moving average price of $10.20 and a 200 day moving average price of $9.33. The stock has a market cap of $15.04 billion, a PE ratio of 7.28 and a beta of 0.39.

Subaru (OTCMKTS:FUJHY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.06. The business had revenue of $8.23 billion for the quarter, compared to analysts' expectations of $7.32 billion. Subaru had a return on equity of 11.48% and a net margin of 6.40%. As a group, research analysts predict that Subaru Corporation will post 1.44 earnings per share for the current year.

Hedge Funds Weigh In On Subaru

Several hedge funds and other institutional investors have recently modified their holdings of the company. CHICAGO TRUST Co NA raised its stake in shares of Subaru by 27.5% during the third quarter. CHICAGO TRUST Co NA now owns 64,666 shares of the company's stock valued at $663,000 after acquiring an additional 13,929 shares during the last quarter. GAMMA Investing LLC increased its holdings in Subaru by 8.4% during the 3rd quarter. GAMMA Investing LLC now owns 16,565 shares of the company's stock valued at $167,000 after purchasing an additional 1,279 shares during the period. Finally, Great Lakes Advisors LLC increased its holdings in Subaru by 26.8% during the 1st quarter. Great Lakes Advisors LLC now owns 293,796 shares of the company's stock valued at $2,618,000 after purchasing an additional 62,043 shares during the period. 0.01% of the stock is owned by institutional investors.

About Subaru

Subaru Corporation manufactures and sells automobiles and aerospace products in Japan, rest of Asia, North America, Europe, and internationally. It operates through three segments: Automotive, Aerospace, and Others. The company manufactures, sells, and repairs passenger cars and their components, aircrafts, aerospace-related machinery, and related components; and rents and manages real estate properties.

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