SSAB (OTCMKTS:SSAAY) Sets New 52-Week High – Time to Buy?

SSAB (OTCMKTS:SSAAY) shares 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. The stock had previously closed at $5.15.

Analysts Set New Price Targets

SSAAY has been the topic of several recent research reports. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research note on Monday, July 13th. Morgan Stanley restated an “overweight” rating on shares of SSAB in a research note on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a research report on Tuesday, July 7th. Finally, Dnb Carnegie lowered shares of SSAB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

SSAB Price Performance

The company has a 50-day moving average of $5.11 and a 200-day moving average of $4.63. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.39 and a current ratio of 2.43. The stock has a market cap of $11.20 billion, a price-to-earnings ratio of 18.73 and a beta of 1.40.

SSAB (OTCMKTS:SSAAY) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share for the quarter. The company had revenue of $2.94 billion for the quarter. SSAB had a return on equity of 8.18% and a net margin of 5.73%. As a group, equities research analysts predict that SSAB will post 0.4 earnings per share for the current 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.