Acerinox (OTCMKTS:ANIOY) Shares Up 3.5%

Acerinox, S.A. (OTCMKTS:ANIOYGet Rating) shares shot up 3.5% on Tuesday . The company traded as high as $5.55 and last traded at $5.38. 3,912 shares traded hands during mid-day trading, a decline of 8% from the average session volume of 4,235 shares. The stock had previously closed at $5.20.

A number of brokerages recently weighed in on ANIOY. Credit Suisse Group raised shares of Acerinox from a “neutral” rating to an “outperform” rating in a research report on Thursday, March 24th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Acerinox from €18.00 ($18.95) to €19.00 ($20.00) and gave the company a “buy” rating in a report on Thursday, May 12th. Morgan Stanley cut shares of Acerinox from an “overweight” rating to an “equal weight” rating in a report on Tuesday, May 31st. Finally, JPMorgan Chase & Co. cut their price target on shares of Acerinox from €20.25 ($21.32) to €17.00 ($17.89) in a report on Thursday, April 28th.

The stock has a market capitalization of $2.91 billion, a PE ratio of 4.34 and a beta of 1.56. The firm’s fifty day moving average is $5.59 and its 200-day moving average is $5.96. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.62.

About Acerinox (OTCMKTS:ANIOY)

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.

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