Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Should You Buy?

Salzgitter AG (OTCMKTS:SZGPY) gapped up prior to trading on Monday . The stock had previously closed at $5.63, but opened at $6.15. Salzgitter shares last traded at $6.15, with a volume of 900 shares.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SZGPY. Jefferies Financial Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Zacks Research upgraded shares of Salzgitter to a “hold” rating in a research report on Thursday, July 16th. Citigroup reissued a “neutral” rating on shares of Salzgitter in a research note on Wednesday, May 20th. Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Salzgitter Trading Up 2.4%

The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 70.00 and a beta of 1.68. The stock’s 50 day moving average is $6.17 and its two-hundred day moving average is $5.78.

Salzgitter (OTCMKTS:SZGPY) last released its earnings results on Tuesday, May 12th. The basic materials company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.08 by $0.09. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Salzgitter had a net margin of 0.49% and a return on equity of 1.00%. On average, sell-side analysts predict that Salzgitter AG will post 0.37 EPS for the current year.

Salzgitter Company Profile

Salzgitter AG is a leading European steel producer headquartered in Salzgitter, Germany. The company operates an integrated steelworks, encompassing ironmaking, steelmaking, continuous casting and rolling mills. Its core business revolves around the production and processing of steel products for various industries, including automotive, construction, mechanical engineering and energy.

Founded in 1937 as part of Germany’s industrial expansion, Salzgitter evolved through post-war reconstruction and state ownership before being privatized in the late 1990s.