Zacks Investment Research Upgrades Voestalpine (OTCMKTS:VLPNY) to “Buy”

Voestalpine (OTCMKTS:VLPNY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, reports. The firm presently has a $9.75 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.24% from the company’s previous close.

According to Zacks, “voestalpine AG is engaged in the production, processing and distribution of steel products. Its operating division consists of Steel, Special Steel, Metal Engineering, Metal Forming and Other. Steel division focuses on the production and processing of flat steel products for the automotive, white goods and construction industries. Special Steel division segment manufactures tool steel and high-speed steel. Metal Engineering division produces rails and turnout products, rod wire, drawn wire, premium seamless tubes and welding filler materials. Metal Forming division offers special sections, tube products, and precision strip steel as well as pre-finished system components. Other segment provides coordination services and assistance to the subsidiaries. voestalpine AG is headquartered in Linz, Austria. “

A number of other brokerages have also recently issued reports on VLPNY. Morgan Stanley reissued an “underweight” rating on shares of Voestalpine in a research report on Wednesday, March 24th. The Goldman Sachs Group started coverage on Voestalpine in a research report on Monday, March 22nd. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Voestalpine in a research report on Thursday. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Voestalpine in a research report on Thursday, April 15th. Finally, AlphaValue raised Voestalpine to a “reduce” rating in a research report on Wednesday, February 24th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $9.75.

Shares of OTCMKTS VLPNY opened at $8.61 on Friday. The firm has a market cap of $7.69 billion, a PE ratio of -34.44 and a beta of 1.31. The company has a current ratio of 1.43, a quick ratio of 0.62 and a debt-to-equity ratio of 0.60. Voestalpine has a 52-week low of $4.10 and a 52-week high of $9.40. The firm has a 50-day moving average price of $8.77.

Voestalpine Company Profile

Voestalpine AG processes, develops, manufactures, and sells steel products worldwide. The company operates through five segments: Steel, High Performance Metals, Metal Engineering, Metal Forming, and Other. The Steel division produces hot and cold-rolled steel strips, as well as electrogalvanized, hot-dip galvanized, and organically coated steel strips; and heavy plates for the energy sector, as well as turbine casings for automotive, white goods/consumer goods, building/construction, energy, mechanical engineering, and others.

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