Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Time to Sell?

Salzgitter AG (OTCMKTS:SZGPY)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $6.45, but opened at $6.10. Salzgitter shares last traded at $6.10, with a volume of 1,000 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SZGPY shares. Jefferies Financial Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research note on Wednesday, May 20th. Zacks Research raised Salzgitter to a “hold” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research note on Wednesday, May 13th. Finally, Morgan Stanley raised Salzgitter from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Salzgitter Price Performance

The company has a market cap of $3.30 billion, a P/E ratio of 67.78 and a beta of 1.72. The stock’s 50-day moving average is $6.27 and its two-hundred day moving average is $5.74.

Salzgitter (OTCMKTS:SZGPY) last posted its earnings results on Tuesday, May 12th. The basic materials company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. Salzgitter had a net margin of 0.49% and a return on equity of 1.00%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.53 billion. On average, analysts predict that Salzgitter AG will post 0.37 EPS for the current year.

About Salzgitter

Salzgitter AG is a leading European steel producer headquartered in Salzgitter, Germany. The company operates an integrated steelworks, encompassing ironmaking, steelmaking, continuous casting and rolling mills. Its core business revolves around the production and processing of steel products for various industries, including automotive, construction, mechanical engineering and energy.

Founded in 1937 as part of Germany’s industrial expansion, Salzgitter evolved through post-war reconstruction and state ownership before being privatized in the late 1990s.