Outokumpu (OTCMKTS:OUTKY) Reaches New 52-Week High – Time to Buy?

Shares of Outokumpu (OTCMKTS:OUTKY) hit a new 52-week high on Friday . The company traded as high as $2.7650 and last traded at $2.7650, with a volume of 111 shares. The stock had previously closed at $2.71.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on OUTKY shares. Zacks Research raised shares of Outokumpu from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Citigroup reissued a “neutral” rating on shares of Outokumpu in a research report on Thursday, January 22nd. Jefferies Financial Group cut Outokumpu from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft lowered Outokumpu from a “buy” rating to a “hold” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold”.

Outokumpu Stock Performance

The firm has a market capitalization of $2.62 billion, a PE ratio of -23.04 and a beta of 0.56. The firm’s 50 day moving average price is $2.53 and its 200-day moving average price is $2.26. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.61 and a current ratio of 1.76.

Outokumpu (OTCMKTS:OUTKY) last announced its 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 net margin of 1.83% and a negative return on equity of 2.90%. On average, research 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.