Zacks Investment Research upgraded shares of Ssab Svenskt (OTCMKTS:SSAAY) from a hold rating to a buy rating in a report issued on Saturday, July 22nd. The firm currently has $2.50 price objective on the basic materials company’s stock.

According to Zacks, “SSAB Svenskt Stal AB engages in the provision of steel and construction solutions. The company’s operating segment consists of SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor and Ruukki Construction. SSAB Special Steels segment provides marketing and sales of SSAB’s quenched and tempered steels. SSAB EMEA segment pertains to Europe, the Middle East and Africa. SSAB Americas segment refers to North and Latin America. SSAB APAC segment consists of Asia, Australia and New Zealand. Tibnor segment is the distribution of steel and metals. Ruukki Construction is engaged in the sales and production of energy-efficient building and construction solutions. It’s also operates in the Automotive, Construction Machinery, Material Handling and Heavy Transport segment. SSAB Svenskt Stal AB is headquartered in Stockholm, Sweden. “

Ssab Svenskt (SSAAY) remained flat at $2.38 during mid-day trading on Friday. The company has a market cap of $4.90 billion and a P/E ratio of 17.50. The firm’s 50 day moving average price is $1.57 and its 200 day moving average price is $1.62. Ssab Svenskt has a 52 week low of $1.47 and a 52 week high of $3.61.

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Ssab Svenskt Company Profile

SSAB AB produces and sells steel products in Sweden and internationally. It operates in five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The company offers wear steels for maximum payload and service life; structural steel; prehardened tool steel; and protection plates.

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