SSAB (OTCMKTS:SSAAY) Reaches New 52-Week High – Here’s Why

SSAB (OTCMKTS:SSAAY) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $5.3350 and last traded at $5.26, with a volume of 671 shares trading hands. The stock had previously closed at $4.95.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SSAAY shares. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research report on Monday. Morgan Stanley reissued an “overweight” rating on shares of SSAB in a research report on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a report on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

SSAB Stock Performance

The company has a quick ratio of 1.39, a current ratio of 2.48 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $10.48 billion, a PE ratio of 18.14 and a beta of 1.43. The business has a 50 day simple moving average of $4.98 and a 200 day simple moving average of $4.48.

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