TORAY INDUSTRIE/ADR (OTCMKTS:TRYIY) Upgraded to “Buy” by Zacks Investment Research

TORAY INDUSTRIE/ADR (OTCMKTS:TRYIY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The brokerage presently has a $17.00 target price on the stock. Zacks Investment Research‘s price target points to a potential upside of 13.22% from the company’s current price.

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 INDUSTRIE/ADR stock remained flat at $$15.02 on Thursday. 14,961 shares of the stock traded hands, compared to its average volume of 70,719. The stock has a market cap of $12.25 billion, a PE ratio of 13.90, a PEG ratio of 2.85 and a beta of 0.32. TORAY INDUSTRIE/ADR has a 1-year low of $12.55 and a 1-year high of $16.44.

TORAY INDUSTRIE/ADR Company Profile

Toray Industries, Inc manufactures, processes, and sells fibers and textiles, performance chemicals, carbon fiber composite materials, environment and engineering products, and life science products. The company offers filament yarns, staple fibers, and spun yarns, as well as woven and knitted fabrics of nylon, polyester, acrylics, and others; non-woven fabrics; ultra-microfiber non-woven fabric with suede-texture; and apparel products.

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