Salzgitter (OTCMKTS:SZGPY) Sees Unusually-High Trading Volume – Should You Buy?

Salzgitter AG (OTCMKTS:SZGPY) saw unusually-high trading volume on Monday . Approximately 4,833 shares changed hands during mid-day trading, an increase of 79% from the previous session’s volume of 2,702 shares.The stock last traded at $7.0450 and had previously closed at $7.10.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SZGPY. Morgan Stanley upgraded shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Citigroup restated a “neutral” rating on shares of Salzgitter in a research note on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research note on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Salzgitter Stock Performance

The stock has a market cap of $3.73 billion, a PE ratio of 76.56 and a beta of 1.65. The company’s 50-day moving average price is $6.16 and its 200 day moving average price is $5.56.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings results 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. Salzgitter had a net margin of 0.49% and a return on equity of 1.02%. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.53 billion.

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.