Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Time to Buy?

Shares of Salzgitter AG (OTCMKTS:SZGPY) gapped up prior to trading on Monday . The stock had previously closed at $5.24, but opened at $5.80. Salzgitter shares last traded at $5.80, with a volume of 3,000 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Oddo Bhf upgraded shares of Salzgitter from an “underperform” rating to an “outperform” rating in a research note on Monday, January 19th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research note on Wednesday. UBS Group cut Salzgitter from a “buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Finally, Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold”.

Salzgitter Trading Up 12.4%

The company has a market cap of $3.53 billion, a P/E ratio of 72.44 and a beta of 1.56. The business has a 50 day moving average price of $5.17 and a 200-day moving average price of $4.94.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. Salzgitter had a return on equity of 1.02% and a net margin of 0.49%.The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.53 billion. On average, sell-side analysts expect that Salzgitter AG will post 0.2 earnings per share for the current year.

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.