Outokumpu (OTCMKTS:OUTKY) Sees Large Volume Increase – Should You Buy?

Shares of Outokumpu (OTCMKTS:OUTKY) saw unusually-high trading volume on Friday. 85,001 shares traded hands during trading, an increase of 3,311% from the average daily volume of 2,492 shares. The stock last traded at $2.43 and had previously closed at $2.46.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup reaffirmed a “neutral” rating on shares of Outokumpu in a research note on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Outokumpu in a research report on Friday, September 4th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Outokumpu Price Performance

The company’s fifty day moving average is $2.95 and its 200 day moving average is $3.05. The company has a quick ratio of 0.60, a current ratio of 1.53 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of -24.30 and a beta of 0.72.

Outokumpu (OTCMKTS:OUTKY) last issued its earnings results on Thursday, July 30th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). Outokumpu had a negative net margin of 1.48% and a negative return on equity of 2.38%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.97 billion. On average, equities research analysts predict that Outokumpu will post 0.10 EPS for the current year.

Outokumpu Company Profile

Outokumpu Oyj is a Finland-based stainless steel manufacturer serving customers across Europe, the Americas and other international markets. The company produces stainless steel for applications in industries including construction, automotive, transportation, energy, food processing and industrial equipment.

Its product portfolio includes stainless steel coils, sheets, plates, strips and long products, along with specialized grades designed for demanding environments. Outokumpu also produces ferrochrome, an important raw material used in stainless steel manufacturing, and provides related technical, processing and customer support services.

Outokumpu traces its origins to 1910, when copper ore was discovered in Outokumpu, Finland.