Salzgitter (OTCMKTS:SZGPY) Stock Price Up 7.5% – Here’s Why

Shares of Salzgitter AG (OTCMKTS:SZGPY) traded up 7.5% on Monday. The stock traded as high as $5.75 and last traded at $5.75. Approximately 100 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 2,747 shares. The stock had previously closed at $5.35.

Analysts Set New Price Targets

Several equities analysts recently commented on SZGPY shares. Zacks Research upgraded Salzgitter to a “hold” rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a research note on Friday, September 4th. Jefferies Financial Group raised Salzgitter from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. UBS Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research note on Friday, October 9th. Finally, Citigroup reiterated a “neutral” rating on shares of Salzgitter in a report on Friday, October 23rd. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Salzgitter Stock Performance

The stock has a market capitalization of $3.11 billion, a P/E ratio of 47.92 and a beta of 1.74. The company’s fifty day simple moving average is $5.83 and its two-hundred day simple moving average is $5.82.

Salzgitter (OTCMKTS:SZGPY) last announced its earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share (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 1.29%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.42 billion. On average, research analysts predict that Salzgitter AG will post 0.14 earnings per share for the current fiscal year.

Salzgitter Company Profile

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. The company produces and processes a broad range of steel products, including flat steel, plate, sections, sheet piling and other long products, as well as tubes and precision steel products. Its products serve industries such as automotive manufacturing, construction, mechanical engineering, energy and infrastructure.

The group operates through businesses focused on steel production, steel processing, trading and technology.