Acerinox (OTCMKTS:ANIOY) Sees Strong Trading Volume – Here’s What Happened

Shares of Acerinox (OTCMKTS:ANIOY) saw unusually-high trading volume on Monday . 12,320 shares changed hands during mid-day trading, an increase of 162% from the previous session’s volume of 4,707 shares.The stock last traded at $9.90 and had previously closed at $9.96.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ANIOY. Morgan Stanley reiterated an “overweight” rating on shares of Acerinox in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Acerinox in a research report on Friday, September 4th. BNP Paribas Exane cut Acerinox from a “neutral” rating to an “underperform” rating in a research note on Wednesday, July 8th. Citigroup reissued a “buy” rating on shares of Acerinox in a research note on Tuesday, September 15th. Finally, Jefferies Financial Group upgraded Acerinox to a “strong-buy” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Acerinox has a consensus rating of “Moderate Buy”.

Acerinox Price Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.65 and a quick ratio of 0.79. The stock has a market cap of $4.94 billion, a P/E ratio of 76.15 and a beta of 1.10. The company’s 50 day simple moving average is $10.05 and its 200 day simple moving average is $8.86.

Acerinox (OTCMKTS:ANIOY) last announced its quarterly earnings results on Friday, July 24th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. Acerinox had a net margin of 0.95% and a return on equity of 2.59%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $3.51 billion. As a group, equities analysts forecast that Acerinox will post 0.51 earnings per share for the current year.

About Acerinox

Acerinox, SA is a Spain-based manufacturer of stainless steel and high-performance alloys. The company produces flat and long stainless-steel products, including slabs, hot- and cold-rolled coils, sheets, plates, bars, wire rod and other specialized formats. Its materials are used in sectors such as construction, industrial equipment, transportation, energy, food processing and household appliances.

Founded in 1970, Acerinox has developed into an international metals group with production and commercial operations serving customers in Europe, North America, South Africa and other global markets.