Salzgitter (SZGPY) Downgraded to Hold at Zacks Investment Research

Salzgitter (OTCMKTS:SZGPY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, April 5th. They currently have a $5.50 target price on the basic materials company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.17% from the company’s current price.

According to Zacks, “Salzgitter AG is engaged in the production of steel and steel products. Its operating business unit consists of Strip Steel, Plate/Section Steel, Energy, Trading and Technology. Strip Steel unit produces special and branded steels. Plate/Section Steel unit offers heavy plates. Energy unit covers seamless tubes, seam-and spiral-welded large-diameter pipes, stainless steel tubes as well as seamless and welded precision tubes. Trading unit handles sales network and global trading companies and sales offices. Technology unit focuses on machinery and plants for the filling and packaging of beverages. Salzgitter AG is headquartered in Salzgitter, Germany. “

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Separately, ValuEngine lowered shares of Salzgitter from a “buy” rating to a “hold” rating in a research note on Tuesday, April 3rd.

Shares of SZGPY stock traded down $0.82 during trading hours on Thursday, hitting $4.86. 200 shares of the company were exchanged, compared to its average volume of 200. Salzgitter has a 52-week low of $3.59 and a 52-week high of $6.17. The firm has a market cap of $2,920.71, a P/E ratio of 54.00 and a beta of 1.55.

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Salzgitter Company Profile

Salzgitter Aktiengesellschaft, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through five segments: Strip Steel, Plate/Section Steel, Mannesmann, Trading, and Technology. The Strip Steel segment manufactures branded and special steels, such as hot-rolled strip steel and steel sheets, sections, tailored blanks, and components for the construction industry.

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