Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Should You Buy?

Salzgitter AG (OTCMKTS:SZGPY – Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $6.30, but opened at $6.65. Salzgitter shares last traded at $6.65, with a volume of 1,824 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on SZGPY. 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 reissued a “buy” rating on shares of Salzgitter in a report on Wednesday, August 12th. Finally, Morgan Stanley raised Salzgitter from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Five research 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 company currently has an average rating of “Moderate Buy”.

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Salzgitter Stock Performance

The company’s 50 day moving average price is $5.83 and its two-hundred day moving average price is $5.84. The stock has a market cap of $3.60 billion, a P/E ratio of 55.42 and a beta of 1.68.

Salzgitter (OTCMKTS:SZGPY – Get Free Report) last announced its earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). Salzgitter had a net margin of 0.65% and a return on equity of 1.30%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.42 billion. On average, sell-side analysts anticipate that Salzgitter AG will post 0.22 earnings per share for the current year.

Salzgitter Company Profile

(Get Free Report)

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.

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