Resonac (OTCMKTS:SHWDY) Raised to Strong-Buy at The Goldman Sachs Group

Resonac (OTCMKTS:SHWDY) was upgraded by stock analysts at The Goldman Sachs Group to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Separately, Nomura Securities upgraded shares of Resonac from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

Resonac Trading Down 5.4%

Shares of Resonac stock opened at $44.00 on Monday. The stock has a market capitalization of $8.14 billion, a P/E ratio of 220.01 and a beta of 0.41. Resonac has a 52-week low of $15.38 and a 52-week high of $47.30. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.30 and a current ratio of 1.74. The stock’s 50-day simple moving average is $38.74 and its 200 day simple moving average is $32.56.

Resonac (OTCMKTS:SHWDY) last issued its earnings results on Thursday, November 13th. The company reported ($0.51) earnings per share for the quarter. Resonac had a return on equity of 3.94% and a net margin of 0.43%.The business had revenue of $2.33 billion for the quarter.

About Resonac

Resonac Corporation (OTCMKTS: SHWDY), formerly known as Showa Denko K.K., is a diversified chemical manufacturer based in Tokyo, Japan. The company produces a broad range of industrial chemicals and performance materials that serve sectors including automotive, electronics, energy storage and environmental applications. Its product portfolio encompasses basic petrochemicals, polyolefins, functional chemicals, ceramic powders, aluminum specialty products and graphite electrodes for steel production.

Resonac maintains a strong presence in the electronics materials market through its supply of semiconductor‐grade silicon, silicon wafers, rare‐earth magnetic alloys and high‐purity gases and chemicals used in semiconductor fabrication.