Increased risk weighs on KLOECKNER & CO, penalising its rating down to Negative
The independent financial analyst theScreener just lowered the general evaluation of KLOECKNER & CO (DE), active in the Steel industry. As regards its fundamental valuation, the title still shows 0 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Negative. As of the analysis date November 19, 2021, the closing price was EUR 10.49 and its target price was estimated at EUR 8.85.Klockner & Co is a holding company. Co. is engaged in the mill-independent distributor of steel and metal products and steel service center in the combined European and American market. Co.'s core business is the distribution of steel and non-ferrous metals as well as the operation of steel service centers. Co. concentrated mainly in the construction industry as well as the machinery and mechanical engineering industries. Co. also supplies intermediate products for the automotive, shipbuilding, and consumer goods industries, and provides customers solution from procurement through logistics to prefabrication, including individual deliveries and 24-hour service.
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