Toray Industries Inc. (OTCMKTS:TRYIY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Toray Industries, Inc. specializes in manufacturing, processing and sales of the following products: The Fibers and Textiles segment manufactures, processes and sells textile; staple fibers, spun yarns, woven and knitted fabrics of nylon and apparel products. The Plastics and Chemical segment offers plastic, nylon, polyester, polypropylene and chemical products. IT-related products segment offers films; electronic circuit- and semiconductor-related materials; color filters for LCDs; and graphic materials. The Carbon Fiber Composite Material segment manufactures and sells carbon fibers and carbon fiber composite materials. The Environment and Engineering segment offers Comprehensive engineering; condominiums; industrial equipment and machinery; environment-related equipment; water treatment membranes and related equipment; materials for housing, building and civil engineering applications. The Life Science segment manufactures and sells medical, pharmaceutical and optical products. “

Shares of Toray Industries (OTCMKTS TRYIY) opened at 18.00 on Wednesday. The firm has a market capitalization of $14.40 billion, a P/E ratio of 16.61 and a beta of 0.25. The company’s 50 day moving average price is $17.56 and its 200 day moving average price is $17.37. Toray Industries has a one year low of $15.98 and a one year high of $19.93.

Toray Industries (OTCMKTS:TRYIY) last released its quarterly earnings data on Monday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.04. The company had revenue of $4.54 billion for the quarter.

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