SSAB (OTCMKTS:SSAAY) Sets New 1-Year High – Should You Buy?

SSAB (OTCMKTS:SSAAY) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $5.0830 and last traded at $5.0830, with a volume of 110 shares changing hands. The stock had previously closed at $4.82.

Analysts Set New Price Targets

SSAAY has been the topic of a number of research reports. Citigroup restated a “buy” rating on shares of SSAB in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a report on Monday, April 13th. Finally, Morgan Stanley upgraded SSAB from an “overweight” rating to an “overweight” rating in a report on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, SSAB has a consensus rating of “Moderate Buy”.

SSAB Stock Performance

The stock has a market capitalization of $10.08 billion, a PE ratio of 17.44 and a beta of 1.39. The stock has a fifty day moving average of $4.45 and a 200-day moving average of $4.13. The company has a quick ratio of 1.39, a current ratio of 2.48 and a debt-to-equity ratio of 0.10.

SSAB (OTCMKTS:SSAAY) last posted its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.09 EPS for the quarter. SSAB had a net margin of 5.59% and a return on equity of 8.13%. The company had revenue of $2.77 billion during the quarter. Equities analysts anticipate that SSAB will post 0.38 earnings per share for the current fiscal 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.