Outokumpu (OTCMKTS:OUTKY) Shares Gap Up – Still a Buy?

Outokumpu (OTCMKTS:OUTKY) gapped up prior to trading on Thursday . The stock had previously closed at $2.9350, but opened at $3.35. Outokumpu shares last traded at $3.35, with a volume of 282 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Jefferies Financial Group lowered shares of Outokumpu from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. Citigroup restated a “neutral” rating on shares of Outokumpu in a report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of Outokumpu from a “buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Finally, Zacks Research upgraded Outokumpu from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Outokumpu Trading Up 8.5%

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.76 and a quick ratio of 0.61. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of -19.91 and a beta of 0.59. The business has a 50 day moving average of $2.73 and a 200 day moving average of $2.38.

Outokumpu (OTCMKTS:OUTKY) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05. Outokumpu had a negative net margin of 2.55% and a negative return on equity of 3.97%. The firm had revenue of $1.35 billion during the quarter. As a group, research analysts predict that Outokumpu will post 0.07 earnings per share for the current fiscal year.

About Outokumpu

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.