Norsk Hydro ASA (NHYDY) Rating Increased to Buy at Zacks Investment Research

Norsk Hydro ASA (OTCMKTS:NHYDY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $8.25 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 8.84% from the stock’s previous close.

According to Zacks, “Norsk Hydro ASA is an aluminium company with production, sales and trading activities. The company’s operating segment consists of Bauxite & Alumina, Primary Metal, Metal Markets, Rolled Products, Energy and Other and eliminations. Norsk Hydro ASA is headquartered in Oslo, Norway. “

Several other brokerages also recently weighed in on NHYDY. ValuEngine downgraded shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Credit Suisse Group AG raised shares of Norsk Hydro ASA from a “neutral” rating to an “outperform” rating in a report on Wednesday, July 26th. Finally, BNP Paribas raised shares of Norsk Hydro ASA from a “neutral” rating to an “outperform” rating in a report on Wednesday, September 6th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Norsk Hydro ASA has a consensus rating of “Buy” and a consensus price target of $8.25.

Norsk Hydro ASA (OTCMKTS:NHYDY) opened at 7.58 on Thursday. The company’s 50-day moving average is $7.21 and its 200-day moving average is $6.17. Norsk Hydro ASA has a 52-week low of $4.19 and a 52-week high of $7.60. The firm has a market capitalization of $15.50 billion, a P/E ratio of 22.29 and a beta of 0.89.

Norsk Hydro ASA (OTCMKTS:NHYDY) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Norsk Hydro ASA had a net margin of 6.16% and a return on equity of 6.57%. The company had revenue of $2.89 billion for the quarter. On average, analysts predict that Norsk Hydro ASA will post $0.51 EPS for the current year.

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