Iochpe-Maxion (OTCMKTS:IOCJY) Shares Up 4.6% – Here’s What Happened

Shares of Iochpe-Maxion SA (OTCMKTS:IOCJY) traded up 4.6% on Tuesday. The company traded as high as $0.7314 and last traded at $0.7314. Approximately 3,595 shares were traded during mid-day trading, an increase of 2,487% from the average daily volume of 139 shares. The stock had previously closed at $0.6990.

Wall Street Analyst Weigh In

Separately, Bradesco Corretora downgraded shares of Iochpe-Maxion to a “neutral” rating in a research note on Tuesday, September 15th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Iochpe-Maxion Stock Performance

The stock has a market capitalization of $337.29 million, a PE ratio of 18.29 and a beta of 0.79. The company has a quick ratio of 1.11, a current ratio of 1.73 and a debt-to-equity ratio of 1.15. The stock has a fifty day moving average of $0.58 and a 200-day moving average of $0.56.

Iochpe-Maxion (OTCMKTS:IOCJY) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. The company had revenue of $778.82 million for the quarter, compared to the consensus estimate of $784.78 million. Iochpe-Maxion had a return on equity of 2.05% and a net margin of 0.63%. Equities analysts anticipate that Iochpe-Maxion SA will post 0.08 earnings per share for the current fiscal year.

Iochpe-Maxion Company Profile

Iochpe-Maxion SA is a Brazilian manufacturer of automotive components and one of the world’s major producers of vehicle wheels. Through its Maxion Wheels business, the company supplies steel and aluminum wheels for passenger cars, commercial vehicles, agricultural equipment, construction and mining machinery, and other applications.

The company also operates through Maxion Structural Components, which produces structural assemblies and components for commercial vehicles and other automotive applications.