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

Acerinox (OTCMKTS:ANIOY)’s stock price 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 trading hands.

Analysts Set New Price Targets

Several research firms recently commented on ANIOY. Citigroup reissued a “buy” rating on shares of Acerinox in a report on Tuesday, September 15th. Deutsche Bank reaffirmed a “buy” rating on shares of Acerinox in a research report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Acerinox presently has an average rating of “Moderate Buy”.

Acerinox Stock Performance

The firm has a fifty day simple moving average of $9.58 and a 200-day simple moving average of $8.82. The company has a market cap of $4.37 billion, a PE ratio of 32.48 and a beta of 1.07. The company has a quick ratio of 0.79, a current ratio of 1.65 and a debt-to-equity ratio of 0.60.

Acerinox (OTCMKTS:ANIOY) last posted its earnings results on Friday, October 30th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Acerinox had a net margin of 1.93% and a return on equity of 5.41%. On average, research 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.