Italgas (OTCMKTS:ITGGF) Trading 3% Higher – Time to Buy?

Italgas S.p.A. (OTCMKTS:ITGGF) shares were up 3% during trading on Wednesday . The company traded as high as $9.88 and last traded at $9.88. 798 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 5,920 shares. The stock had previously closed at $9.59.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ITGGF. Citigroup raised Italgas from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 9th. Royal Bank Of Canada reissued an “outperform” rating on shares of Italgas in a report on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Italgas in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Italgas Stock Up 3.0%

The firm’s fifty day moving average is $10.57 and its two-hundred day moving average is $11.41.

Italgas Company Profile

Italgas S.p.A. is one of Europe’s leading operators in the regulated natural gas distribution sector. Through its network of concessions, the company designs, constructs and manages pipelines, metering stations and related infrastructure to deliver safe, efficient gas supply to residential, commercial and industrial end users. Its core business activities include network maintenance, emergency response services, and meter installation and management, all under long-term regulated tariffs set by national authorities.

Established in Turin in 1837, Italgas is among the oldest gas distribution companies in Europe.