Outokumpu (OTCMKTS:OUTKY) Reaches New 52-Week High – Still a Buy?

Outokumpu (OTCMKTS:OUTKY) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $3.4466 and last traded at $3.4466, with a volume of 362 shares trading hands. The stock had previously closed at $3.15.

Wall Street Analysts Forecast Growth

OUTKY has been the topic of a number of recent research reports. Jefferies Financial Group lowered shares of Outokumpu from a “buy” rating to a “hold” rating in a report on Friday, January 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Outokumpu in a research report on Tuesday, April 14th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Outokumpu in a report on Friday, April 17th. One equities research analyst has 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 stock presently has a consensus rating of “Hold”.

Outokumpu Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 0.58. The stock has a fifty day simple moving average of $3.03 and a two-hundred day simple moving average of $2.70. The firm has a market capitalization of $3.26 billion, a P/E ratio of -21.54 and a beta of 0.68.

Outokumpu (OTCMKTS:OUTKY) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.05. Outokumpu had a negative net margin of 2.55% and a negative return on equity of 4.00%. The business had revenue of $1.35 billion during the quarter. On average, research analysts predict that Outokumpu will post 0.01 EPS for the current year.

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.