Outokumpu (OTCMKTS:OUTKY) Shares Gap Up – Should You Buy?

Outokumpu (OTCMKTS:OUTKY) gapped up before the market opened on Wednesday . The stock had previously closed at $3.02, but opened at $3.34. Outokumpu shares last traded at $3.34, with a volume of 101 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on OUTKY shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Outokumpu in a research report on Wednesday, May 13th. Oddo Bhf upgraded Outokumpu to an “outperform” rating in a research note on Tuesday, May 26th. Finally, Citigroup restated a “neutral” rating on shares of Outokumpu in a research note on Wednesday, May 20th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Outokumpu currently has an average rating of “Hold”.

Outokumpu Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.56 and a quick ratio of 0.60. The company’s 50 day moving average price is $3.16 and its 200 day moving average price is $3.09. The firm has a market capitalization of $3.16 billion, a P/E ratio of -33.40 and a beta of 0.72.

Outokumpu (OTCMKTS:OUTKY) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). Outokumpu had a negative return on equity of 2.39% and a negative net margin of 1.48%.The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.97 billion. As a group, sell-side analysts anticipate that Outokumpu will post 0.14 EPS for the current fiscal year.

Outokumpu Company Profile

Outokumpu Oyj is a Finland-based global producer of stainless steel products and one of Europe’s leading stainless steel manufacturers. Headquartered in Helsinki, the company traces its roots back to mining operations established in 1910 and has, over decades, transformed into a focused stainless steel specialist. Outokumpu’s core business encompasses the production of high-grade stainless steel in flat and long product forms, serving a broad range of industries including automotive, construction, energy, and consumer goods.

The company’s primary product portfolio includes cold-rolled and hot-rolled coils and sheets, plates, strips, bars and wire, as well as tailor-made and value-added solutions such as precision-cut blanks and welded tubes.