SSAB (OTCMKTS:SSAAY) Hits New 52-Week High – Here’s What Happened

SSAB (OTCMKTS:SSAAY)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $5.69 and last traded at $5.42, with a volume of 305 shares changing hands. The stock had previously closed at $5.62.

Wall Street Analyst Weigh In

A number of brokerages have commented on SSAAY. Dnb Carnegie lowered shares of SSAB from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a report on Tuesday, July 7th. Morgan Stanley restated an “overweight” rating on shares of SSAB in a research report on Tuesday, July 28th. Finally, Citigroup reiterated a “buy” rating on shares of SSAB in a research report on Monday, July 13th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

SSAB Stock Performance

The stock’s 50 day simple moving average is $5.13 and its two-hundred day simple moving average is $4.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 1.37. The stock has a market cap of $11.44 billion, a P/E ratio of 19.13 and a beta of 1.40.

SSAB (OTCMKTS:SSAAY) last posted its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $0.11 EPS for the quarter. The business had revenue of $2.94 billion for the quarter. SSAB had a net margin of 5.73% and a return on equity of 8.18%. As a group, research analysts forecast that SSAB will post 0.4 EPS for the current year.

About SSAB

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.