Outokumpu (OTCMKTS:OUTKY) Shares Gap Up – Still a Buy?

Outokumpu (OTCMKTS:OUTKY) gapped up before the market opened on Wednesday . The stock had previously closed at $3.02, but opened at $3.34. Outokumpu shares last traded at $3.34, with a volume of 101 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OUTKY shares. Citigroup reiterated a “neutral” rating on shares of Outokumpu in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Outokumpu in a research note on Wednesday, May 13th. Finally, Oddo Bhf upgraded shares of Outokumpu to an “outperform” rating in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Outokumpu Price Performance

The business has a fifty day moving average of $3.15 and a 200-day moving average of $3.10. The company has a current ratio of 1.56, a quick ratio of 0.60 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.04 billion, a PE ratio of -32.10 and a beta of 0.72.

Outokumpu (OTCMKTS:OUTKY) last posted its earnings results on Thursday, July 30th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Outokumpu had a negative net margin of 1.48% and a negative return on equity of 2.39%. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.97 billion. As a group, research analysts predict that Outokumpu will post 0.14 earnings per share for the current year.

Outokumpu Company Profile

Outokumpu Oyj is a Finland-based global producer of stainless steel products and one of Europe’s leading stainless steel manufacturers. Headquartered in Helsinki, the company traces its roots back to mining operations established in 1910 and has, over decades, transformed into a focused stainless steel specialist. Outokumpu’s core business encompasses the production of high-grade stainless steel in flat and long product forms, serving a broad range of industries including automotive, construction, energy, and consumer goods.

The company’s primary product portfolio includes cold-rolled and hot-rolled coils and sheets, plates, strips, bars and wire, as well as tailor-made and value-added solutions such as precision-cut blanks and welded tubes.