Salzgitter (ETR:SZG) Share Price Passes Above 200-Day Moving Average of $21.31

Salzgitter AG (ETR:SZG)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of €21.31 ($25.07) and traded as high as €26.80 ($31.53). Salzgitter shares last traded at €26.66 ($31.36), with a volume of 109,464 shares.

A number of brokerages have issued reports on SZG. JPMorgan Chase & Co. set a €28.50 ($33.53) price objective on shares of Salzgitter and gave the stock a “buy” rating in a research note on Thursday, April 15th. DZ Bank restated a “buy” rating on shares of Salzgitter in a research note on Friday, April 23rd. Kepler Capital Markets set a €28.00 ($32.94) price target on shares of Salzgitter and gave the company a “neutral” rating in a research note on Tuesday, March 23rd. Baader Bank set a €35.00 ($41.18) price target on shares of Salzgitter and gave the company a “buy” rating in a research note on Tuesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft set a €25.00 ($29.41) price target on shares of Salzgitter and gave the company a “neutral” rating in a research note on Friday, April 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of €27.14 ($31.93).

The firm’s 50-day moving average is €25.93 and its 200-day moving average is €21.31. The company has a current ratio of 1.92, a quick ratio of 0.99 and a debt-to-equity ratio of 46.20. The firm has a market cap of $1.41 billion and a price-to-earnings ratio of -5.07.

Salzgitter Company Profile (ETR:SZG)

Salzgitter AG, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through five segments: Strip Steel, Plate/Section Steel, Mannesmann, Trading, and Technology. The Strip Steel segment manufactures branded and special steels, such as hot-rolled strip steel and steel sheets, sections, tailored blanks, and components for the construction industry.

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