SSAB (OTCMKTS:SSAAY) Sets New 12-Month High – Still a Buy?

SSAB (OTCMKTS:SSAAY)’s stock price hit a new 52-week high on Friday . The company traded as high as $4.10 and last traded at $4.10, with a volume of 3158 shares traded. The stock had previously closed at $4.01.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SSAAY. Citigroup reissued a “buy” rating on shares of SSAB in a research note on Friday, December 5th. Danske raised shares of SSAB from a “hold” rating to a “buy” rating in a research note on Thursday, October 23rd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, SSAB presently has a consensus rating of “Moderate Buy”.

SSAB Stock Performance

The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 16.35 and a beta of 1.31. The stock has a fifty day moving average price of $3.66 and a 200 day moving average price of $3.28. The company has a current ratio of 2.38, a quick ratio of 1.30 and a debt-to-equity ratio of 0.06.

SSAB (OTCMKTS:SSAAY) last released its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.08 earnings per share for the quarter. The company had revenue of $2.41 billion during the quarter. SSAB had a net margin of 5.17% and a return on equity of 7.33%. As a group, analysts predict that SSAB will post 0.24 earnings per share for the current year.

SSAB Company Profile

SSAB (OTCMKTS:SSAAY) is a Swedish steel producer specializing in high-strength and wear-resistant steels. The company develops and manufactures steel products for customers in industries such as construction, automotive, mining and heavy transport. SSAB’s key brands include Hardox® for abrasion-resistant steel, Strenx® for high-strength steel in structural applications and Docol® for advanced automotive steel solutions.

Founded in 1978 through the merger of Sweden’s state-owned steelworks, SSAB was privatized in the mid-1980s and listed on the Nasdaq Stockholm exchange.