Salzgitter (OTCMKTS:SZGPY) Sees Large Volume Increase – Should You Buy?

Salzgitter AG (OTCMKTS:SZGPY) saw an uptick in trading volume on Tuesday . 6,521 shares traded hands during mid-day trading, an increase of 226% from the previous session’s volume of 2,000 shares.The stock last traded at $5.29 and had previously closed at $5.0750.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a research report on Tuesday. Zacks Research raised shares of Salzgitter from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Citigroup restated a “neutral” rating on shares of Salzgitter in a research report on Friday, December 5th. Deutsche Bank Aktiengesellschaft upgraded Salzgitter from a “hold” rating to a “buy” rating in a report on Tuesday, November 25th. Finally, BNP Paribas raised Salzgitter to an “outperform” rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Salzgitter Stock Performance

The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -13.42 and a beta of 1.38. The firm has a fifty day moving average of $4.12 and a 200-day moving average of $3.27.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings results on Monday, November 10th. The basic materials company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Salzgitter had a negative return on equity of 4.31% and a negative net margin of 2.09%. On average, analysts predict that Salzgitter AG will post -0.68 EPS for the current year.

About Salzgitter

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.