Salzgitter AG (SZGPY) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of Salzgitter AG (OTCMKTS:SZGPY) from a hold rating to a sell rating in a report published on Wednesday morning.
According to Zacks, “Salzgitter AG is engaged in the production of steel and steel products. Its operating business unit consists of Strip Steel, Plate/Section Steel, Energy, Trading and Technology. Strip Steel unit produces special and branded steels. Plate/Section Steel unit offers heavy plates. Energy unit covers seamless tubes, seam-and spiral-welded large-diameter pipes, stainless steel tubes as well as seamless and welded precision tubes. Trading unit handles sales network and global trading companies and sales offices. Technology unit focuses on machinery and plants for the filling and packaging of beverages. Salzgitter AG is headquartered in Salzgitter, Germany. “
Other research analysts also recently issued research reports about the company. Goldman Sachs Group, Inc. (The) reiterated a neutral rating on shares of Salzgitter AG in a report on Wednesday, July 19th. Kepler Capital Markets downgraded Salzgitter AG from a buy rating to a reduce rating in a report on Thursday, June 22nd.
Shares of Salzgitter AG (SZGPY) opened at 4.492 on Wednesday. The firm has a 50 day moving average price of $4.45 and a 200-day moving average price of $3.99. Salzgitter AG has a 52-week low of $2.97 and a 52-week high of $4.54. The company has a market cap of $2.43 billion and a price-to-earnings ratio of 19.676.
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About Salzgitter AG
Salzgitter Aktiengesellschaft, through its subsidiaries, engages in steel and technology businesses worldwide. It operates through Strip Steel, Plate/Section Steel, Mannesmann, Trading, and Technology business units. The Strip Steel business unit manufactures branded and special steels, such as hot-rolled strip steel, cold-rolled steel, sections, tailored blanks, and components for the construction industry.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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