Outokumpu (OTCMKTS:OUTKY) Shares Gap Up – Still a Buy?

Outokumpu (OTCMKTS:OUTKY)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $3.1668, but opened at $3.45. Outokumpu shares last traded at $3.50, with a volume of 699 shares.

Analysts Set New Price Targets

OUTKY has been the topic of a number of recent analyst reports. Citigroup reissued a “neutral” rating on shares of Outokumpu in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Outokumpu in a research report on Wednesday, May 13th. Finally, Oddo Bhf upgraded Outokumpu to an “outperform” rating in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Outokumpu Price Performance

The company has a current ratio of 1.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average is $3.04 and its two-hundred day moving average is $2.79. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -23.27 and a beta of 0.68.

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.