Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Still a Buy?

Shares of Salzgitter AG (OTCMKTS:SZGPY) gapped up prior to trading on Thursday . The stock had previously closed at $4.95, but opened at $5.88. Salzgitter shares last traded at $5.88, with a volume of 173 shares traded.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Finally, Morgan Stanley raised shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Salzgitter currently has a consensus rating of “Moderate Buy”.

Salzgitter Trading Up 19.0%

The company has a market cap of $3.18 billion, a PE ratio of 65.33 and a beta of 1.72. The firm has a 50 day moving average of $6.14 and a two-hundred day moving average of $5.65.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.09. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.53 billion. Salzgitter had a return on equity of 1.00% and a net margin of 0.49%.

Salzgitter Company Profile

Salzgitter AG is a leading European steel producer headquartered in Salzgitter, Germany. The company operates an integrated steelworks, encompassing ironmaking, steelmaking, continuous casting and rolling mills. Its core business revolves around the production and processing of steel products for various industries, including automotive, construction, mechanical engineering and energy.

Founded in 1937 as part of Germany’s industrial expansion, Salzgitter evolved through post-war reconstruction and state ownership before being privatized in the late 1990s.