Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Should You Buy?

Salzgitter AG (OTCMKTS:SZGPY)’s stock price gapped up before the market opened on Tuesday. The stock had previously closed at $4.87, but opened at $5.3150. Salzgitter shares last traded at $5.3150, with a volume of 1,084 shares trading hands.

Analysts Set New Price Targets

Several brokerages have issued reports on SZGPY. Jefferies Financial Group raised shares of Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. UBS Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a research report on Friday, September 4th. Finally, Zacks Research upgraded shares of Salzgitter to a “hold” rating in a report on Thursday, July 16th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Salzgitter has an average rating of “Moderate Buy”.

Salzgitter Trading Up 9.1%

The firm has a fifty day moving average of $6.09 and a 200 day moving average of $5.92. The company has a market capitalization of $2.87 billion, a P/E ratio of 44.29 and a beta of 1.70.

Salzgitter (OTCMKTS:SZGPY) last posted its earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.15). The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.42 billion. Salzgitter had a net margin of 0.65% and a return on equity of 1.29%. Sell-side analysts anticipate that Salzgitter AG will post 0.22 EPS for the current fiscal year.

About Salzgitter

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. Its activities are organized across steel production, steel processing, trading and technology. The company supplies steel products for applications in construction, automotive manufacturing, mechanical engineering, energy and other industrial markets.

Its steel business produces flat steel, plate, sections and other rolled products, while its processing operations manufacture tubes, precision steel products and related components.