Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Time to Buy?

Salzgitter AG (OTCMKTS:SZGPY) shares 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 traded.

Analysts Set New Price Targets

A number of equities research analysts 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 research note on Friday, October 23rd. Zacks Research upgraded Salzgitter to a “hold” rating in a report on Thursday, July 16th. UBS Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a research note on Friday, October 9th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research note on Friday, September 4th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Salzgitter Stock Performance

The firm’s 50-day moving average is $5.77 and its two-hundred day moving average is $5.81. The stock has a market cap of $3.09 billion, a P/E ratio of 47.58 and a beta of 1.74.

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). Salzgitter had a net margin of 0.65% and a return on equity of 1.29%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.42 billion. As a group, research analysts forecast 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.