SSAB (OTCMKTS:SSAAY) Reaches New 1-Year High – Here’s Why

SSAB (OTCMKTS:SSAAY)’s stock price reached a new 52-week high on Thursday . The company traded as high as $5.45 and last traded at $5.45, with a volume of 300 shares changing hands. The stock had previously closed at $5.15.

Analyst Ratings Changes

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

SSAB Price Performance

The company has a 50-day simple moving average of $5.07 and a 200-day simple moving average of $4.59. The stock has a market cap of $10.27 billion, a PE ratio of 17.17 and a beta of 1.43. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.48 and a quick ratio of 1.39.

SSAB (OTCMKTS:SSAAY) last released its earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 EPS for the quarter. The company had revenue of $2.94 billion during the quarter. SSAB had a return on equity of 8.52% and a net margin of 5.73%. Sell-side analysts anticipate that SSAB will post 0.4 EPS for the current fiscal 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.