Outokumpu (OTCMKTS:OUTKY) Shares Gap Up – Time to Buy?

Outokumpu (OTCMKTS:OUTKY)’s share price gapped up before the market opened on Monday. The stock had previously closed at $2.58, but opened at $2.76. Outokumpu shares last traded at $2.76, with a volume of 300 shares trading hands.

Analysts Set New Price Targets

OUTKY has been the subject of a number of research reports. Citigroup reaffirmed a “neutral” rating on shares of Outokumpu in a research note on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Outokumpu in a report on Friday, September 4th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold”.

Outokumpu Price Performance

The firm has a market capitalization of $2.61 billion, a P/E ratio of -27.60 and a beta of 0.65. The stock’s fifty day simple moving average is $3.08 and its 200 day simple moving average is $3.12. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.53 and a quick ratio of 0.60.

Outokumpu (OTCMKTS:OUTKY) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Outokumpu had a negative net margin of 1.48% and a negative return on equity of 2.38%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.97 billion. On average, equities research analysts predict that Outokumpu will post 0.10 EPS for the current year.

About Outokumpu

Outokumpu Oyj is a Finland-based metals company specializing in stainless steel and related products. Its portfolio includes stainless steel in coils, sheets, plates and long products, as well as specialty grades designed for demanding applications such as corrosion resistance, high temperatures and hygiene. The company also produces ferrochrome, an important raw material used in stainless steel manufacturing.

Outokumpu serves customers across industries including construction, automotive, transportation, energy, food and beverage, and industrial equipment.