Outokumpu (OTCMKTS:OUTKY) Sees Large Volume Increase – Here’s Why

Shares of Outokumpu (OTCMKTS:OUTKY) saw unusually-high trading volume on Friday . Approximately 2,500 shares traded hands during trading, an increase of 72% from the previous session’s volume of 1,450 shares.The stock last traded at $2.74 and had previously closed at $2.71.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Danske raised Outokumpu to a “buy” rating in a research note on Friday, October 3rd. Deutsche Bank Aktiengesellschaft cut shares of Outokumpu from a “buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Zacks Research raised shares of Outokumpu from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Citigroup reaffirmed a “neutral” rating on shares of Outokumpu in a research note on Friday, December 5th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Outokumpu presently has a consensus rating of “Hold”.

Outokumpu Stock Performance

The firm has a market capitalization of $2.59 billion, a PE ratio of -22.83 and a beta of 0.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.76 and a quick ratio of 0.61. The firm has a fifty day moving average price of $2.38 and a 200 day moving average price of $2.18.

Outokumpu (OTCMKTS:OUTKY) last issued its quarterly earnings results on Wednesday, October 29th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $1.52 billion during the quarter. Outokumpu had a negative return on equity of 2.90% and a negative net margin of 1.83%. Research analysts anticipate that Outokumpu will post 0.07 earnings per share for the current fiscal year.

Outokumpu Company Profile

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.