Outokumpu (OTCMKTS:OUTKY) Reaches New 1-Year High – Here’s Why

Outokumpu (OTCMKTS:OUTKY)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $2.7650 and last traded at $2.7650, with a volume of 111 shares changing hands. The stock had previously closed at $2.71.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Danske upgraded shares of Outokumpu to a “buy” rating in a report on Friday, October 3rd. Zacks Research upgraded Outokumpu from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Jefferies Financial Group downgraded Outokumpu from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. Deutsche Bank Aktiengesellschaft lowered Outokumpu from a “buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Finally, Citigroup reiterated a “neutral” rating on shares of Outokumpu in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Outokumpu currently has an average rating of “Hold”.

Outokumpu Stock Up 0.2%

The firm has a 50-day simple moving average of $2.52 and a 200 day simple moving average of $2.25. The company has a market capitalization of $2.62 billion, a PE ratio of -23.04 and a beta of 0.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.76 and a quick ratio of 0.61.

Outokumpu (OTCMKTS:OUTKY) last posted its earnings results on Wednesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $1.52 billion during the quarter. Outokumpu had a negative net margin of 1.83% and a negative return on equity of 2.90%. On average, research analysts predict that Outokumpu will post 0.07 EPS for the current fiscal year.

Outokumpu Company Profile

Outokumpu Oyj is a Finland-based global producer of stainless steel products and one of Europe’s leading stainless steel manufacturers. Headquartered in Helsinki, the company traces its roots back to mining operations established in 1910 and has, over decades, transformed into a focused stainless steel specialist. Outokumpu’s core business encompasses the production of high-grade stainless steel in flat and long product forms, serving a broad range of industries including automotive, construction, energy, and consumer goods.

The company’s primary product portfolio includes cold-rolled and hot-rolled coils and sheets, plates, strips, bars and wire, as well as tailor-made and value-added solutions such as precision-cut blanks and welded tubes.