Acerinox (OTCMKTS:ANIOY) Shares Gap Down – What’s Next?

Acerinox (OTCMKTS:ANIOY) shares gapped down before the market opened on Monday. The stock had previously closed at $9.42, but opened at $8.8550. Acerinox shares last traded at $8.8340, with a volume of 393 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ANIOY shares. BNP Paribas Exane downgraded shares of Acerinox from a “neutral” rating to an “underperform” rating in a report on Wednesday, July 8th. Jefferies Financial Group upgraded shares of Acerinox to a “strong-buy” rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Acerinox in a research report on Friday, September 4th. Finally, Citigroup reissued a “buy” rating on shares of Acerinox in a research note on Tuesday, September 15th. One research 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Acerinox currently has an average rating of “Moderate Buy”.

Acerinox Stock Down 6.3%

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.65 and a quick ratio of 0.79. The company has a market cap of $4.41 billion, a PE ratio of 32.72 and a beta of 1.07. The firm has a 50-day simple moving average of $9.80 and a two-hundred day simple moving average of $8.79.

Acerinox (OTCMKTS:ANIOY) last released its earnings results on Friday, October 30th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.87 billion. Acerinox had a return on equity of 5.41% and a net margin of 1.93%. Research analysts anticipate that Acerinox will post 0.53 earnings per share for the current fiscal year.

Acerinox Company Profile

Acerinox, SA is a Spain-based metals producer specializing in stainless steel and high-performance alloys. Its product portfolio includes stainless steel flat and long products, such as sheet, coil, plate, bar, wire and other fabricated forms, serving applications in construction, industrial equipment, transportation, energy, food processing and consumer products.

Founded in 1970, Acerinox has developed into an international manufacturing and distribution group. Its operations include production facilities in Spain, the United States and South Africa, including North American Stainless in Kentucky and Columbus Stainless in South Africa.