Outokumpu (OTCMKTS:OUTKY) Trading 9% Higher – Still a Buy?

Outokumpu (OTCMKTS:OUTKY) shot up 9% during trading on Friday . The company traded as high as $3.10 and last traded at $3.10. 924 shares were traded during mid-day trading, a decline of 74% from the average session volume of 3,492 shares. The stock had previously closed at $2.8444.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Oddo Bhf raised Outokumpu to an “outperform” rating in a research note on Tuesday, May 26th. Citigroup reissued a “neutral” rating on shares of Outokumpu in a research note on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Outokumpu in a report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold”.

Outokumpu Price Performance

The stock has a market capitalization of $2.93 billion, a P/E ratio of -20.67 and a beta of 0.75. The stock’s fifty day moving average is $3.23 and its 200-day moving average is $3.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.56 and a quick ratio of 0.60.

Outokumpu Company Profile

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.