SSAB AB (publ)’s (SSAAY) Overweight Rating Reaffirmed at JPMorgan Chase & Co.

SSAB AB (publ) (OTCMKTS:SSAAY)‘s stock had its “overweight” rating reiterated by stock analysts at JPMorgan Chase & Co. in a report released on Thursday, The Fly reports.

Several other research analysts have also commented on the company. Barclays reissued an “overweight” rating on shares of SSAB AB (publ) in a report on Thursday. Citigroup reissued a “buy” rating on shares of SSAB AB (publ) in a report on Tuesday, April 27th. Oddo Bhf raised SSAB AB (publ) from a “neutral” rating to an “outperform” rating in a report on Wednesday, June 23rd. AlphaValue raised SSAB AB (publ) to a “reduce” rating in a report on Tuesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB AB (publ) in a report on Tuesday, June 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $3.00.

Shares of SSAAY traded up $0.29 during midday trading on Thursday, hitting $2.75. 850 shares of the company traded hands, compared to its average volume of 1,034. The stock’s 50-day moving average is $2.57. SSAB AB has a one year low of $1.44 and a one year high of $3.02. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 45.83 and a beta of 1.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.80 and a current ratio of 1.64.

SSAB AB (publ) (OTCMKTS:SSAAY) last announced its quarterly earnings results on Monday, April 26th. The basic materials company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.03. SSAB AB (publ) had a return on equity of 1.66% and a net margin of 1.42%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.40 billion. On average, equities research analysts predict that SSAB AB will post 0.61 earnings per share for the current fiscal year.

SSAB AB (publ) Company Profile

SSAB AB engages in producing steel and construction solutions. It operates through the following five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor and Ruukki Construction. The SSAB Special Steels segment market and sell quenched and tempered steels and hot rolled. The SSAB Europe segment focuses in the strip, plate, and tubular products.

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Analyst Recommendations for SSAB AB (publ) (OTCMKTS:SSAAY)

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