Saab (OTCMKTS:SAABY) Sees Strong Trading Volume Following Analyst Upgrade

Saab AB – Unsponsored ADR (OTCMKTS:SAABY) saw strong trading volume on Monday after Royal Bank Of Canada upgraded the stock to a hold rating. Approximately 323,899 shares changed hands during mid-day trading, an increase of 94% from the previous session’s volume of 167,339 shares.The stock last traded at $34.3064 and had previously closed at $33.49.

A number of other analysts have also recently commented on the company. Citigroup upgraded Saab from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Kepler Capital Markets raised Saab from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Barclays upgraded Saab from a “strong sell” rating to a “strong-buy” rating in a research note on Monday. Finally, Pareto Securities upgraded Saab from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Saab Price Performance

The firm has a market cap of $37.06 billion, a price-to-earnings ratio of 49.46 and a beta of -0.14. The firm’s 50 day moving average price is $28.90 and its two-hundred day moving average price is $31.91. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.23 and a quick ratio of 0.82.

Saab (OTCMKTS:SAABY) last issued its quarterly earnings results on Friday, July 17th. The company reported $0.21 earnings per share (EPS) for the quarter. The firm had revenue of $2.72 billion for the quarter. Saab had a return on equity of 15.87% and a net margin of 8.05%.

About Saab

Saab AB is a Sweden-based aerospace and defense company that develops, manufactures and supplies products, services and solutions for military and civil security markets. Founded in 1937 as an aircraft manufacturer, the company has diversified into areas including combat aircraft, airborne surveillance, radar and sensor systems, missiles and weapons, naval vessels and underwater systems, as well as command-and-control, training and simulation and cybersecurity solutions.

In aeronautics, Saab is best known for its Gripen family of multi-role fighter aircraft and for airborne surveillance solutions that integrate radars and sensors.