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Nidec (NYSE:NJ) was upgraded by Zacks from an “underperform” rating to an “outperform” rating in a research note issued to investors on Monday, American Banking reports. The firm currently has a $31.10 target price on the stock. Zacks‘ price target would indicate a potential upside of 3.74% from the stock’s previous close.

Nidec (NYSE:NJ) traded up 1.32% during mid-day trading on Monday, hitting $29.99. The stock had a trading volume of 27,117 shares. Nidec has a 52-week low of $13.42 and a 52-week high of $31.00. The stock has a 50-day moving average of $27.43 and a 200-day moving average of $23.30. The company has a market cap of $16.543 billion and a price-to-earnings ratio of 56.41.

Nidec (NYSE:NJ) last announced its earnings results on Friday, January 31st. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.25 by $0.01. On average, analysts predict that Nidec will post $1.03 earnings per share for the current fiscal year.

Nidec Corporation (NYSE:NJ) is a global manufacturer of electric motors, and related components and equipment.

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