Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Here’s What Happened

Salzgitter AG (OTCMKTS:SZGPY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $5.75, but opened at $5.90. Salzgitter shares last traded at $6.01, with a volume of 509 shares changing hands.

Analyst Upgrades and Downgrades

SZGPY has been the subject of a number of recent analyst reports. Zacks Research raised Salzgitter to a “hold” rating in a research report on Thursday, July 16th. Morgan Stanley upgraded shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Jefferies Financial Group raised shares of Salzgitter from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a research report on Friday, September 4th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Salzgitter Trading Up 0.8%

The company has a market capitalization of $3.25 billion, a PE ratio of 50.08 and a beta of 1.70. The stock has a fifty day simple moving average of $6.19 and a 200-day simple moving average of $5.86.

Salzgitter (OTCMKTS:SZGPY) last issued its earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.15). The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.42 billion. Salzgitter had a net margin of 0.65% and a return on equity of 1.30%. As a group, equities research analysts predict that Salzgitter AG will post 0.22 EPS for the current year.

Salzgitter Company Profile

Salzgitter AG is a Germany-based industrial group headquartered in Salzgitter, Lower Saxony. Its core business is the production and processing of steel products, including flat steel, heavy plate, structural steel, and precision steel tubes. The company supplies products to customers in industries such as automotive manufacturing, construction, mechanical engineering, energy, and infrastructure.

The Salzgitter Group operates through several business areas, including steel production, steel processing, trading, and technology.