Outokumpu (OTCMKTS:OUTKY) Shares Gap Up – Still a Buy?

Outokumpu (OTCMKTS:OUTKY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $3.1668, but opened at $3.45. Outokumpu shares last traded at $3.50, with a volume of 699 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Outokumpu in a research report on Wednesday, May 13th. Citigroup reaffirmed a “neutral” rating on shares of Outokumpu in a report on Wednesday, May 20th. Finally, Oddo Bhf upgraded shares of Outokumpu to an “outperform” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

Outokumpu Stock Up 10.5%

The firm’s 50-day simple moving average is $3.04 and its two-hundred day simple moving average is $2.79. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of -23.27 and a beta of 0.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 0.58.

Outokumpu Company Profile

Outokumpu Oyj is a Finland-based global producer of stainless steel products and one of Europe’s leading stainless steel manufacturers. Headquartered in Helsinki, the company traces its roots back to mining operations established in 1910 and has, over decades, transformed into a focused stainless steel specialist. Outokumpu’s core business encompasses the production of high-grade stainless steel in flat and long product forms, serving a broad range of industries including automotive, construction, energy, and consumer goods.

The company’s primary product portfolio includes cold-rolled and hot-rolled coils and sheets, plates, strips, bars and wire, as well as tailor-made and value-added solutions such as precision-cut blanks and welded tubes.