Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Time to Buy?

Salzgitter AG (OTCMKTS:SZGPY)’s share price gapped up before the market opened on Thursday. The stock had previously closed at $4.8840, but opened at $5.33. Salzgitter shares last traded at $5.33, with a volume of 655 shares.

Analysts Set New Price Targets

SZGPY has been the subject of several analyst reports. UBS Group raised shares of Salzgitter from a “hold” rating to a “buy” rating in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a report on Friday, September 4th. Citigroup restated a “neutral” rating on shares of Salzgitter in a research note on Friday, October 23rd. Zacks Research upgraded shares of Salzgitter to a “hold” rating in a research report on Thursday, July 16th. Finally, Jefferies Financial Group raised shares of Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Salzgitter Trading Down 3.4%

The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 44.58 and a beta of 1.70. The firm’s 50-day moving average price is $5.83 and its 200 day moving average price is $5.82.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings data on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.15). The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Salzgitter had a return on equity of 1.29% and a net margin of 0.65%. As a group, equities research analysts anticipate 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.