Acerinox (OTCMKTS:ANIOY) Shares Gap Up – Still a Buy?

Acerinox (OTCMKTS:ANIOY)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $6.22, but opened at $6.5610. Acerinox shares last traded at $6.5610, with a volume of 321 shares changing hands.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Acerinox in a research note on Friday, July 25th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Acerinox has a consensus rating of “Moderate Buy”.

Acerinox Price Performance

The firm has a market cap of $3.27 billion, a PE ratio of 34.53 and a beta of 1.26. The company has a 50 day simple moving average of $6.47 and a 200-day simple moving average of $6.11.

Acerinox (OTCMKTS:ANIOY) last issued its earnings results on Friday, October 31st. The company reported $0.06 earnings per share (EPS) for the quarter. Acerinox had a return on equity of 3.54% and a net margin of 1.59%.The business had revenue of $1.65 billion during the quarter. On average, sell-side analysts predict that Acerinox will post 0.48 EPS for the current fiscal year.

About Acerinox

Acerinox, SA, together with its subsidiaries, manufactures, process, and markets stainless steel products in Spain, the United States, Africa, Asia, Rest of Europe, and internationally. It operates through Stainless steel, and High-performance Alloys segments. The company offers flat products, including hot and cold rolled coils and sheets, strips, flat bars, and discs, as well as engraved coil and sheet, black coil, slabs, circles, billets, and plates.