Outokumpu (OTCMKTS:OUTKY) Hits New 52-Week High – Should You Buy?

Outokumpu (OTCMKTS:OUTKY) hit a new 52-week high during trading on Wednesday . The stock traded as high as $3.50 and last traded at $3.4904, with a volume of 1724 shares. The stock had previously closed at $3.16.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OUTKY. Citigroup reiterated a “neutral” rating on shares of Outokumpu in a research note on Wednesday, May 20th. Oddo Bhf upgraded Outokumpu to an “outperform” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Outokumpu in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Outokumpu Trading Up 10.5%

The business has a 50-day moving average price of $3.05 and a two-hundred day moving average price of $2.80. The stock has a market capitalization of $3.30 billion, a P/E ratio of -23.27 and a beta of 0.68. The company has a current ratio of 1.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15.

About Outokumpu

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.