Salzgitter (OTCMKTS:SZGPY) Trading Up 13.1% – Still a Buy?

Salzgitter AG (OTCMKTS:SZGPY)’s share price was up 13.1% during mid-day trading on Thursday . The company traded as high as $6.74 and last traded at $6.74. 134 shares traded hands during trading, a decline of 95% from the average session volume of 2,516 shares. The stock had previously closed at $5.96.

Analyst Ratings Changes

SZGPY has been the subject of several recent analyst reports. Jefferies Financial Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a report on Friday, September 4th. Finally, Zacks Research upgraded Salzgitter to a “hold” rating in a research report on Thursday, July 16th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Salzgitter Price Performance

The firm’s fifty day moving average is $6.19 and its two-hundred day moving average is $5.86. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 50.00 and a beta of 1.70.

Salzgitter (OTCMKTS:SZGPY) last released its earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.15). The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.42 billion. Salzgitter had a net margin of 0.65% and a return on equity of 1.30%. On average, equities analysts forecast that Salzgitter AG will post 0.22 earnings per share for the current fiscal year.

Salzgitter Company Profile

Salzgitter AG is a Germany-based industrial group headquartered in Salzgitter, Lower Saxony. Its core business is the production and processing of steel products, including flat steel, heavy plate, structural steel, and precision steel tubes. The company supplies products to customers in industries such as automotive manufacturing, construction, mechanical engineering, energy, and infrastructure.

The Salzgitter Group operates through several business areas, including steel production, steel processing, trading, and technology.