Outokumpu (OTCMKTS:OUTKY) Trading Up 6.1% – Here’s Why

Outokumpu (OTCMKTS:OUTKY) was up 6.1% on Friday . The stock traded as high as $3.30 and last traded at $3.30. Approximately 215 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 11,567 shares. The stock had previously closed at $3.11.

Wall Street Analyst Weigh In

OUTKY has been the topic of a number of recent research reports. Zacks Research upgraded Outokumpu from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Citigroup reiterated a “neutral” rating on shares of Outokumpu in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group cut shares of Outokumpu from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Outokumpu Trading Up 6.1%

The firm has a market capitalization of $3.12 billion, a P/E ratio of -20.63 and a beta of 0.59. The business’s 50 day moving average is $2.74 and its two-hundred day moving average is $2.38. The company has a quick ratio of 0.61, a current ratio of 1.76 and a debt-to-equity ratio of 0.15.

Outokumpu (OTCMKTS:OUTKY) last released its earnings results on Thursday, February 12th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.05. The firm had revenue of $1.35 billion for the quarter. Outokumpu had a negative net margin of 2.55% and a negative return on equity of 3.97%. Analysts expect that Outokumpu will post 0.07 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.