Outokumpu (OTCMKTS:OUTKY) Stock Price Up 6.1% – Should You Buy?

Outokumpu (OTCMKTS:OUTKY) shares shot up 6.1% on Wednesday. The stock traded as high as $3.06 and last traded at $2.9775. Approximately 1,163 shares were traded during trading, a decline of 57% from the average daily volume of 2,723 shares. The stock had previously closed at $2.8050.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Outokumpu in a research note on Friday, September 4th. Citigroup restated a “neutral” rating on shares of Outokumpu in a research note on Tuesday, September 15th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Outokumpu Price Performance

The firm has a market cap of $2.82 billion, a P/E ratio of -29.77 and a beta of 0.65. The firm’s fifty day simple moving average is $3.10 and its 200 day simple moving average is $3.12. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.60 and a current ratio of 1.53.

Outokumpu (OTCMKTS:OUTKY) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Outokumpu had a negative return on equity of 2.38% and a negative net margin of 1.48%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.97 billion. As a group, analysts forecast that Outokumpu will post 0.12 earnings per share for the current year.

Outokumpu Company Profile

Outokumpu Oyj is a Finland-based metals company specializing in stainless steel and related products. Its portfolio includes stainless steel in coils, sheets, plates and long products, as well as specialty grades designed for demanding applications such as corrosion resistance, high temperatures and hygiene. The company also produces ferrochrome, an important raw material used in stainless steel manufacturing.

Outokumpu serves customers across industries including construction, automotive, transportation, energy, food and beverage, and industrial equipment.