SSAB AB (publ) (OTCMKTS:SSAAY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

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. “

A number of other equities research analysts have also issued reports on SSAAY. Morgan Stanley raised SSAB AB (publ) from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, March 24th. The Goldman Sachs Group began coverage on SSAB AB (publ) in a research note on Monday, March 22nd. They set a “buy” rating on the stock. JPMorgan Chase & Co. reissued an “underweight” rating on shares of SSAB AB (publ) in a research note on Tuesday, February 2nd. Credit Suisse Group reissued an “outperform” rating on shares of SSAB AB (publ) in a research note on Monday, February 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB AB (publ) in a research note on Monday, February 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $2.25.

Shares of OTCMKTS:SSAAY opened at $2.74 on Wednesday. The business’s 50 day simple moving average is $2.34 and its 200-day simple moving average is $1.88. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of -30.44 and a beta of 1.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.55 and a quick ratio of 0.69. SSAB AB has a 12 month low of $0.96 and a 12 month high of $2.74.

SSAB AB (publ) (OTCMKTS:SSAAY) last announced its quarterly earnings results on Friday, January 29th. The basic materials company reported $0.02 EPS for the quarter. SSAB AB (publ) had a negative return on equity of 3.47% and a negative net margin of 3.25%. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.80 billion. On average, equities analysts anticipate that SSAB AB will post -0.05 earnings per share for the current year.

About SSAB AB (publ)

SSAB AB (publ) produces and sells steel products in the United States, Sweden, Finland, Germany, Denmark, and internationally. It operates through five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The SSAB Special Steels segment offers quenched and tempered steels, and hot-rolled advanced high-strength steel products.

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