Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Should You Sell?

Salzgitter AG (OTCMKTS:SZGPY) gapped down before the market opened on Wednesday . The stock had previously closed at $6.45, but opened at $6.10. Salzgitter shares last traded at $6.10, with a volume of 1,000 shares.

Analysts Set New Price Targets

SZGPY has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a report on Wednesday, May 13th. Morgan Stanley raised shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research note on Wednesday, May 20th. Finally, Zacks Research upgraded shares of Salzgitter to a “hold” rating in a research report on Thursday, July 16th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Salzgitter presently has an average rating of “Moderate Buy”.

Salzgitter Stock Performance

The firm has a market capitalization of $3.17 billion, a P/E ratio of 65.22 and a beta of 1.72. The firm has a 50 day simple moving average of $6.25 and a two-hundred day simple moving average of $5.75.

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