Voestalpine Ag (VLPNY) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Voestalpine Ag (NASDAQ:VLPNY) from a buy rating to a hold rating in a research note released on Friday morning.

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. “

Voestalpine Ag (VLPNY) traded down 1.2882% during trading on Friday, hitting $10.7201. 3,196 shares of the stock traded hands. Voestalpine Ag has a 52-week low of $6.97 and a 52-week high of $10.94. The company’s 50 day moving average price is $10.46 and its 200-day moving average price is $9.52. The stock has a market cap of $9.45 billion and a P/E ratio of 12.9689.

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