Italgas (OTCMKTS:ITGGF) Trading Down 2.6% – What’s Next?

Italgas S.p.A. (OTCMKTS:ITGGF) shares traded down 2.6% on Thursday . The company traded as low as $12.37 and last traded at $12.37. 400 shares changed hands during mid-day trading, an increase of 72% from the average session volume of 233 shares. The stock had previously closed at $12.7020.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ITGGF. Deutsche Bank Aktiengesellschaft lowered shares of Italgas to a “hold” rating in a research report on Monday, January 19th. Morgan Stanley reissued an “overweight” rating on shares of Italgas in a report on Wednesday, October 15th. Royal Bank Of Canada restated an “outperform” rating on shares of Italgas in a research report on Monday, November 3rd. Finally, Citigroup cut Italgas to a “neutral” rating in a research report on Friday, October 31st. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Italgas Stock Performance

The company has a 50-day simple moving average of $11.29 and a 200-day simple moving average of $10.18.

Italgas Company Profile

Italgas S.p.A. is one of Europe’s leading operators in the regulated natural gas distribution sector. Through its network of concessions, the company designs, constructs and manages pipelines, metering stations and related infrastructure to deliver safe, efficient gas supply to residential, commercial and industrial end users. Its core business activities include network maintenance, emergency response services, and meter installation and management, all under long-term regulated tariffs set by national authorities.

Established in Turin in 1837, Italgas is among the oldest gas distribution companies in Europe.