Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Should You Sell?

Shares of Salzgitter AG (OTCMKTS:SZGPY) gapped down prior to trading on Friday . The stock had previously closed at $7.99, but opened at $7.10. Salzgitter shares last traded at $7.09, with a volume of 790 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently commented on SZGPY. Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Salzgitter has an average rating of “Moderate Buy”.

Salzgitter Price Performance

The firm has a fifty day simple moving average of $5.73 and a 200-day simple moving average of $5.34. The firm has a market cap of $3.83 billion, a P/E ratio of 78.78 and a beta of 1.65.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.08 by $0.09. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.53 billion. Salzgitter had a return on equity of 1.02% and a net margin of 0.49%.

Salzgitter Company Profile

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.