Salzgitter (OTCMKTS:SZGPY) Sees Unusually-High Trading Volume – Still a Buy?

Salzgitter AG (OTCMKTS:SZGPY) saw an uptick in trading volume on Thursday . 6,000 shares traded hands during mid-day trading, an increase of 121% from the previous session’s volume of 2,718 shares.The stock last traded at $5.77 and had previously closed at $6.45.

Analyst Ratings Changes

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

Salzgitter Stock Performance

The firm has a fifty day moving average price of $6.26 and a 200 day moving average price of $5.75. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 64.11 and a beta of 1.72.

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

Salzgitter Company Profile

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.