Acerinox (OTCMKTS:ANIOY) Sees Unusually-High Trading Volume – What’s Next?

Acerinox (OTCMKTS:ANIOY) shares saw strong trading volume on Monday. Approximately 152,287 shares changed hands during trading, an increase of 3,368% from the previous session’s volume of 4,391 shares. The stock last traded at $9.35 and had previously closed at $9.30.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. BNP Paribas Exane lowered shares of Acerinox from a “neutral” rating to an “underperform” rating in a research note on Wednesday, July 8th. Jefferies Financial Group upgraded Acerinox to a “strong-buy” rating in a research note on Monday, July 13th. Citigroup reissued a “buy” rating on shares of Acerinox in a report on Tuesday, September 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Acerinox in a report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Acerinox currently has a consensus rating of “Moderate Buy”.

Acerinox Stock Up 0.6%

The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 71.92 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.65. The business’s 50 day moving average is $9.98 and its 200-day moving average is $9.24.

Acerinox (OTCMKTS:ANIOY) last released its earnings results on Friday, July 24th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $3.51 billion. Acerinox had a net margin of 0.95% and a return on equity of 2.59%. Equities analysts anticipate that Acerinox will post 0.53 EPS for the current fiscal year.

Acerinox Company Profile

Acerinox, SA is a Spanish manufacturer of stainless steel and high-performance alloys. The company produces flat and long stainless-steel products, including sheets, coils, plates, bars, wire rod and wire, serving applications such as construction, transportation, energy, industrial equipment, food processing and household products.

Founded in 1970, Acerinox has developed an international production and distribution network. Its principal manufacturing operations have included facilities in Spain, the United States and South Africa, while its commercial network serves customers across Europe, the Americas, Africa and Asia.