Acerinox (OTCMKTS:ANIOY) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Acerinox (OTCMKTS:ANIOY) saw unusually-strong trading volume on Monday . Approximately 12,320 shares were traded during trading, an increase of 162% from the previous session’s volume of 4,707 shares.The stock last traded at $9.90 and had previously closed at $9.96.

Wall Street Analysts Forecast Growth

ANIOY has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Acerinox in a research report on Monday, June 15th. BNP Paribas Exane downgraded Acerinox from a “neutral” rating to an “underperform” rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Acerinox in a research note on Friday, September 4th. Jefferies Financial Group upgraded shares of Acerinox to a “strong-buy” rating in a research report on Monday, July 13th. Finally, Citigroup restated a “buy” rating on shares of Acerinox in a research note on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Acerinox Stock Up 3.1%

The firm has a market capitalization of $5.09 billion, a P/E ratio of 78.54 and a beta of 1.10. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.65. The stock has a 50 day moving average of $10.08 and a 200-day moving average of $8.90.

Acerinox (OTCMKTS:ANIOY) last posted its earnings results on Friday, July 24th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. Acerinox had a net margin of 0.95% and a return on equity of 2.59%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $3.51 billion. Research analysts predict that Acerinox will post 0.51 earnings per share for the current fiscal year.

Acerinox Company Profile

Acerinox, SA is a Spain-based manufacturer of stainless steel and high-performance alloys. The company produces flat and long stainless-steel products, including slabs, hot- and cold-rolled coils, sheets, plates, bars, wire rod and other specialized formats. Its materials are used in sectors such as construction, industrial equipment, transportation, energy, food processing and household appliances.

Founded in 1970, Acerinox has developed into an international metals group with production and commercial operations serving customers in Europe, North America, South Africa and other global markets.