Outokumpu (OTCMKTS:OUTKY) Shares Gap Up – Time to Buy?

Outokumpu (OTCMKTS:OUTKY)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $3.0160, but opened at $3.4466. Outokumpu shares last traded at $3.4466, with a volume of 362 shares.

Analysts Set New Price Targets

A number of research analysts recently issued reports on OUTKY shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Outokumpu in a report on Tuesday, April 14th. Citigroup reissued a “neutral” rating on shares of Outokumpu in a report on Friday, April 17th. Finally, Jefferies Financial Group cut shares of Outokumpu from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Outokumpu Price Performance

The stock has a market cap of $3.26 billion, a P/E ratio of -21.54 and a beta of 0.68. The business has a 50-day simple moving average of $3.04 and a 200 day simple moving average of $2.71. The company has a current ratio of 1.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15.

Outokumpu (OTCMKTS:OUTKY) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.05. The company had revenue of $1.35 billion for the quarter. Outokumpu had a negative return on equity of 4.00% and a negative net margin of 2.55%. On average, analysts forecast that Outokumpu will post 0.01 earnings per share for the current year.

Outokumpu Company Profile

Outokumpu Oyj is a Finland-based global producer of stainless steel products and one of Europe’s leading stainless steel manufacturers. Headquartered in Helsinki, the company traces its roots back to mining operations established in 1910 and has, over decades, transformed into a focused stainless steel specialist. Outokumpu’s core business encompasses the production of high-grade stainless steel in flat and long product forms, serving a broad range of industries including automotive, construction, energy, and consumer goods.

The company’s primary product portfolio includes cold-rolled and hot-rolled coils and sheets, plates, strips, bars and wire, as well as tailor-made and value-added solutions such as precision-cut blanks and welded tubes.