Salzgitter (SZGPY) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Salzgitter (OTCMKTS:SZGPY) from a buy rating to a hold rating in a research report sent to investors on Thursday. They currently have $5.50 target price on the basic materials company’s stock.

According to Zacks, “Salzgitter AG is engaged in the production of steel and steel products. Its operating business unit consists of Strip Steel, Plate/Section Steel, Energy, Trading and Technology. Strip Steel unit produces special and branded steels. Plate/Section Steel unit offers heavy plates. Energy unit covers seamless tubes, seam-and spiral-welded large-diameter pipes, stainless steel tubes as well as seamless and welded precision tubes. Trading unit handles sales network and global trading companies and sales offices. Technology unit focuses on machinery and plants for the filling and packaging of beverages. Salzgitter AG is headquartered in Salzgitter, Germany. “

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Separately, ValuEngine downgraded Salzgitter from a buy rating to a hold rating in a research note on Tuesday, April 3rd.

Shares of Salzgitter stock opened at $4.86 on Thursday. The firm has a market cap of $2,920.71, a price-to-earnings ratio of 54.00 and a beta of 1.55. Salzgitter has a 1-year low of $3.59 and a 1-year high of $6.17.

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Salzgitter Company Profile

Salzgitter Aktiengesellschaft, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through five segments: Strip Steel, Plate/Section Steel, Mannesmann, Trading, and Technology. The Strip Steel segment manufactures branded and special steels, such as hot-rolled strip steel and steel sheets, sections, tailored blanks, and components for the construction industry.

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