Norsk Hydro ASA (NHYDY) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Norsk Hydro ASA (OTCMKTS:NHYDY) from a hold rating to a buy rating in a research report report published on Thursday. Zacks Investment Research currently has $8.25 price target on the industrial products company’s stock.
According to Zacks, “Norsk Hydro ASA is an aluminium company with production, sales and trading activities. The company’s operating segment consists of Bauxite & Alumina, Primary Metal, Metal Markets, Rolled Products, Energy and Other and eliminations. Norsk Hydro ASA is headquartered in Oslo, Norway. “
A number of other equities research analysts have also recently commented on the stock. Credit Suisse Group AG raised shares of Norsk Hydro ASA from a neutral rating to an outperform rating in a report on Wednesday, July 26th. BNP Paribas raised shares of Norsk Hydro ASA from a neutral rating to an outperform rating in a report on Wednesday, September 6th. Finally, ValuEngine raised shares of Norsk Hydro ASA from a hold rating to a buy rating in a report on Friday, September 1st. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $8.25.
Shares of Norsk Hydro ASA (OTCMKTS NHYDY) traded up 1.74% during trading on Thursday, reaching $7.58. The company had a trading volume of 119,901 shares. Norsk Hydro ASA has a 1-year low of $4.19 and a 1-year high of $7.60. The firm has a 50-day moving average of $7.18 and a 200 day moving average of $6.16. The firm has a market capitalization of $15.50 billion, a PE ratio of 22.29 and a beta of 0.89.
Norsk Hydro ASA (OTCMKTS:NHYDY) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Norsk Hydro ASA had a net margin of 6.16% and a return on equity of 6.57%. The business had revenue of $2.89 billion during the quarter. Analysts expect that Norsk Hydro ASA will post $0.51 earnings per share for the current year.
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About Norsk Hydro ASA
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