Wakachiku Construction Co., Ltd.’s (TSE:1888) 28% Share Price Surge Not Quite Adding Up
Despite an already strong run, Wakachiku Construction Co., Ltd. (TSE:1888) shares have been powering on, with a gain of 28% in the last thirty days. Looking back a bit further, it’s encouraging to see the stock is up 77% in the last year.
Since its price has surged higher, Wakachiku Construction’s price-to-earnings (or “P/E”) ratio of 19.3x might make it look like a sell right now compared to the market in Japan, where around half of the companies have P/E ratios below 14x and even P/E’s below 9x are quite common. Although, it’s not wise to just take the P/E at face value as there may be an explanation why it’s as high as it is.
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