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

Salzgitter AG (OTCMKTS:SZGPY)’s share price gapped up prior to trading on Monday. The stock had previously closed at $5.22, but opened at $5.71. Salzgitter shares last traded at $5.71, with a volume of 606 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Jefferies Financial Group raised Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Citigroup reissued a “neutral” rating on shares of Salzgitter in a report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research note on Friday, September 4th. UBS Group raised shares of Salzgitter from a “hold” rating to a “buy” rating in a report on Friday, October 9th. Finally, Zacks Research upgraded shares of Salzgitter to a “hold” rating in a research report on Thursday, July 16th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Salzgitter Trading Up 9.4%

The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 47.58 and a beta of 1.74. The stock has a fifty day moving average price of $5.77 and a 200-day moving average price of $5.81.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). Salzgitter had a net margin of 0.65% and a return on equity of 1.29%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.42 billion. On average, equities analysts expect that Salzgitter AG will post 0.14 EPS for the current year.

About Salzgitter

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter. Its businesses include steel production, steel trading, tube manufacturing and technology, serving customers in industries such as automotive, construction, energy and manufacturing.

The company produces a range of steel products, including flat and plate steel, and supplies tubes and pipes for industrial applications. Through its technology business, including KHS, Salzgitter also develops filling and packaging systems for the beverage and liquid-food industries.

Salzgitter serves customers in Germany and other international markets.