SSAB (OTCMKTS:SSAAY) Reaches New 1-Year High – Time to Buy?

Shares of SSAB (OTCMKTS:SSAAY) reached a new 52-week high on Wednesday . The company traded as high as $5.5935 and last traded at $5.5935, with a volume of 1004 shares changing hands. The stock had previously closed at $5.15.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SSAAY shares. Citigroup restated a “buy” rating on shares of SSAB in a research report on Monday, July 13th. Dnb Carnegie cut shares of SSAB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Morgan Stanley restated an “overweight” rating on shares of SSAB in a report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research report on Tuesday, July 7th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, SSAB has a consensus rating of “Moderate Buy”.

SSAB Trading Up 8.6%

The company has a 50-day moving average price of $5.09 and a two-hundred day moving average price of $4.61. The stock has a market cap of $11.15 billion, a P/E ratio of 18.64 and a beta of 1.40. The company has a current ratio of 2.48, a quick ratio of 1.39 and a debt-to-equity ratio of 0.10.

SSAB (OTCMKTS:SSAAY) last posted its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $0.11 EPS for the quarter. SSAB had a net margin of 5.73% and a return on equity of 8.52%. The company had revenue of $2.94 billion during the quarter. On average, research analysts expect that SSAB will post 0.4 EPS 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.