SSAB (OTCMKTS:SSAAY) Hits New 12-Month High – Time to Buy?

SSAB (OTCMKTS:SSAAY) hit a new 52-week high during trading on Thursday . The stock traded as high as $4.30 and last traded at $4.30, with a volume of 200 shares. The stock had previously closed at $4.13.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SSAAY. Citigroup reaffirmed a “buy” rating on shares of SSAB in a report on Thursday. Danske raised shares of 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’s stock. Based on data from MarketBeat, SSAB currently has an average rating of “Moderate Buy”.

SSAB Stock Up 0.9%

The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of 17.36 and a beta of 1.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 1.30. The stock has a fifty day moving average of $3.78 and a two-hundred day moving average of $3.32.

SSAB (OTCMKTS:SSAAY) last released its quarterly earnings results 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 during the quarter. SSAB had a net margin of 5.17% and a return on equity of 7.33%. Sell-side analysts anticipate that SSAB will post 0.24 earnings per share for the current 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.