Acerinox (OTCMKTS:ANIOY) Shares Gap Up – Here’s Why

Acerinox (OTCMKTS:ANIOY) shares gapped up prior to trading on Tuesday. The stock had previously closed at $8.30, but opened at $8.7550. Acerinox shares last traded at $8.7550, with a volume of 321 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Acerinox in a report on Friday, September 4th. Citigroup restated a “buy” rating on shares of Acerinox in a research note on Tuesday, September 15th. Finally, Jefferies Financial Group upgraded Acerinox to a “strong-buy” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Acerinox Trading Up 5.5%

The company has a quick ratio of 0.79, a current ratio of 1.65 and a debt-to-equity ratio of 0.60. The firm has a market cap of $4.37 billion, a PE ratio of 32.43 and a beta of 1.07. The stock’s fifty day simple moving average is $9.63 and its two-hundred day simple moving average is $8.81.

Acerinox (OTCMKTS:ANIOY) last released its earnings results on Friday, October 30th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). Acerinox had a return on equity of 5.41% and a net margin of 1.93%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.87 billion. On average, sell-side analysts forecast that Acerinox will post 0.48 EPS for the current fiscal year.

Acerinox Company Profile

Acerinox is a Spain-based metals company that produces and sells stainless steel and high-performance alloys. Founded in 1970, the company serves customers in industries including construction, transportation, energy, food processing and chemical production. Its stainless steel products include flat and long products, such as coils, sheets, plates and bars. Through its acquisition of Haynes International, Acerinox also offers specialty alloys designed for demanding environments, including applications that require resistance to heat or corrosion.