Salzgitter (OTCMKTS:SZGPY) Reaches New 1-Year High – Still a Buy?

Salzgitter AG (OTCMKTS:SZGPY)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $4.40 and last traded at $4.21, with a volume of 6914 shares. The stock had previously closed at $3.85.

Analysts Set New Price Targets

A number of equities research analysts have commented on SZGPY shares. BNP Paribas upgraded Salzgitter to an “outperform” rating in a research report on Friday, October 3rd. Zacks Research raised Salzgitter from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Morgan Stanley reiterated an “underweight” rating on shares of Salzgitter in a report on Monday, November 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Salzgitter Stock Performance

The stock has a market capitalization of $2.27 billion, a PE ratio of -4.89 and a beta of 1.50. The company’s 50-day moving average price is $3.30 and its 200 day moving average price is $2.78.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings results on Monday, November 10th. The basic materials company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Salzgitter had a negative return on equity of 9.40% and a negative net margin of 4.45%.The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Analysts expect that Salzgitter AG will post -0.68 earnings per share for the current year.

About Salzgitter

Salzgitter AG, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through four segments: Steel Production, Steel Processing, Trading, and Technology. The Steel Production segment manufactures steel and special steels, such as hot-rolled wide strip, steel sheet, sections, tailored blanks, as well as scrap trading.