Outokumpu (OTCMKTS:OUTKY) Hits New 12-Month High – Time to Buy?

Shares of Outokumpu (OTCMKTS:OUTKY) reached a new 52-week high on Wednesday . The company traded as high as $3.66 and last traded at $3.66, with a volume of 380 shares trading hands. The stock had previously closed at $3.52.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Citigroup restated a “neutral” rating on shares of Outokumpu in a research report on Wednesday, May 20th. Oddo Bhf raised Outokumpu to an “outperform” rating in a research note on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Outokumpu in a report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Outokumpu Trading Down 5.0%

The company’s fifty day simple moving average is $3.26 and its two-hundred day simple moving average is $2.94. The company has a quick ratio of 0.58, a current ratio of 1.56 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -21.67 and a beta of 0.71.

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.