Acerinox (OTCMKTS:ANIOY) Cut to “Hold” at Zacks Investment Research

Acerinox (OTCMKTS:ANIOYGet Rating) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

According to Zacks, “Acerinox, S.A. is engaged in production and selling stainless steel. The Company also offers slabs, billets, black coils, sheets, angles and bars. It operates primarily in Spain, USA, South Africa and Malaysia. Acerinox, S.A. is headquartered in Madrid, Spain. “

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Acerinox from €20.00 ($21.43) to €20.25 ($21.70) in a research note on Tuesday, March 1st. Morgan Stanley dropped their price target on shares of Acerinox from €16.50 ($17.68) to €11.70 ($12.54) and set an “overweight” rating on the stock in a research note on Wednesday, March 23rd. Finally, Credit Suisse Group upgraded shares of Acerinox from a “neutral” rating to an “outperform” rating in a research report on Thursday, March 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $12.65.

Shares of OTCMKTS ANIOY traded down $0.12 during trading hours on Monday, reaching $5.18. 9,123 shares of the stock were exchanged, compared to its average volume of 4,272. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 7.62 and a beta of 1.63. Acerinox has a 52 week low of $4.96 and a 52 week high of $7.35. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.09 and a current ratio of 1.99. The stock’s fifty day simple moving average is $5.70 and its 200 day simple moving average is $6.17.

Acerinox (OTCMKTS:ANIOYGet Rating) last released its quarterly earnings results on Monday, February 28th. The company reported $0.42 earnings per share (EPS) for the quarter. Acerinox had a return on equity of 18.68% and a net margin of 5.36%. The business had revenue of $2.22 billion during the quarter. Research analysts predict that Acerinox will post 1.55 EPS for the current fiscal year.

Acerinox Company Profile (Get Rating)

Acerinox, SA, through its subsidiaries, manufactures, transforms, and markets stainless steel products in Spain, the Americas, Africa, Asia, Oceania, and Europe. The company offers flat products, including coil cold rollings, hot rolled and black coils, teardrop steel or coils, and hot and cold rolled sheets, as well as roughing materials, discs, billets, and plates.

Further Reading

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