Salzgitter (OTCMKTS:SZGPY) Shares Gap Up After Analyst Upgrade

Salzgitter AG (OTCMKTS:SZGPY) shares gapped up before the market opened on Friday after Zacks Research upgraded the stock to a hold rating. The stock had previously closed at $5.8050, but opened at $6.20. Salzgitter shares last traded at $6.32, with a volume of 708 shares changing hands.

Several other research analysts also recently issued reports on SZGPY. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a report on Wednesday, May 20th. Morgan Stanley raised Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Jefferies Financial Group raised Salzgitter from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a report on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Salzgitter Stock Performance

The business’s 50-day moving average is $6.25 and its two-hundred day moving average is $5.70. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 70.22 and a beta of 1.72.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.09. Salzgitter had a net margin of 0.49% and a return on equity of 1.00%. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Analysts forecast that Salzgitter AG will post 0.37 EPS for the current year.

Salzgitter Company Profile

Salzgitter AG is a leading European steel producer headquartered in Salzgitter, Germany. The company operates an integrated steelworks, encompassing ironmaking, steelmaking, continuous casting and rolling mills. Its core business revolves around the production and processing of steel products for various industries, including automotive, construction, mechanical engineering and energy.

Founded in 1937 as part of Germany’s industrial expansion, Salzgitter evolved through post-war reconstruction and state ownership before being privatized in the late 1990s.