Resonac (OTCMKTS:SHWDY) Hits New 1-Year High – Time to Buy?

Shares of Resonac Holdings Corporation Unsponsored ADR (OTCMKTS:SHWDY) reached a new 52-week high during trading on Wednesday . The stock traded as high as $58.3750 and last traded at $58.3750, with a volume of 184 shares changing hands. The stock had previously closed at $52.9650.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised shares of Resonac to a “strong-buy” rating in a research note on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Buy”.

Resonac Stock Up 15.9%

The company has a current ratio of 1.74, a quick ratio of 1.30 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 306.97 and a beta of 0.41. The firm has a 50 day moving average price of $40.66 and a two-hundred day moving average price of $34.41.

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