ACERINOX SA/ADR (OTCMKTS:ANIOY) Upgraded by Zacks Investment Research to Hold

ACERINOX SA/ADR (OTCMKTS:ANIOY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Acerinox, S.A. is engaged in production and selling stainless steel. The Company also offers slabs, billets, black coils, sheets, angles and bars. It operates primarily in Spain, USA, South Africa and Malaysia. Acerinox, S.A. is headquartered in Madrid, Spain. “

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. upgraded ACERINOX SA/ADR from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Bank of America upgraded ACERINOX SA/ADR from an “underperform” rating to a “neutral” rating in a research report on Monday, November 11th. Deutsche Bank upgraded ACERINOX SA/ADR from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Finally, Jefferies Financial Group upgraded ACERINOX SA/ADR from a “hold” rating to a “buy” rating in a research report on Sunday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. ACERINOX SA/ADR has an average rating of “Buy” and a consensus target price of $5.75.

OTCMKTS:ANIOY remained flat at $$5.15 during midday trading on Thursday. ACERINOX SA/ADR has a one year low of $4.00 and a one year high of $5.35. The company has a market capitalization of $2.79 billion, a P/E ratio of 10.10 and a beta of 1.36. The firm’s 50 day simple moving average is $4.93 and its 200 day simple moving average is $4.57.

About ACERINOX SA/ADR

Acerinox, SA, through its subsidiaries, manufactures, transforms, and markets stainless steel products in Spain, the Americas, Africa, Asia, and rest of Europe. The company's Flat Products segment offers slabs, flats, coils, plates, sheets, circles, and flat bars. Its Long Products segment provides bars, angles, wires, and wire rods.

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