SSAB (OTCMKTS:SSAAY) Sets New 52-Week High – Still a Buy?

SSAB (OTCMKTS:SSAAY) shares reached a new 52-week high on Friday . The company traded as high as $4.10 and last traded at $4.10, with a volume of 3158 shares. The stock had previously closed at $4.01.

Analysts Set New Price Targets

SSAAY has been the subject of several recent research reports. Citigroup reaffirmed a “buy” rating on shares of SSAB in a report on Friday, December 5th. Danske raised SSAB from a “hold” rating to a “buy” rating in a research note on Thursday, October 23rd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

SSAB Trading Up 1.9%

The business has a fifty day moving average price of $3.68 and a two-hundred day moving average price of $3.29. The company has a current ratio of 2.38, a quick ratio of 1.30 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $8.15 billion, a PE ratio of 16.35 and a beta of 1.31.

SSAB (OTCMKTS:SSAAY) last issued its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $2.41 billion for the quarter. SSAB had a net margin of 5.17% and a return on equity of 7.33%. Analysts expect that SSAB will post 0.24 EPS for the current fiscal year.

About SSAB

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.