SSAB (OTCMKTS:SSAAY) Reaches New 1-Year High – Time to Buy?

SSAB (OTCMKTS:SSAAY)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $5.5935 and last traded at $5.5935, with a volume of 1004 shares changing hands. The stock had previously closed at $5.15.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Dnb Carnegie lowered SSAB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a report on Tuesday, July 7th. Citigroup restated a “buy” rating on shares of SSAB in a research note on Monday, July 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of SSAB in a report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

SSAB Price Performance

The firm’s fifty day simple moving average is $5.09 and its 200 day simple moving average is $4.61. The firm has a market cap of $11.15 billion, a P/E ratio of 18.64 and a beta of 1.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.39 and a current ratio of 2.48.

SSAB (OTCMKTS:SSAAY) last issued its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share for the quarter. SSAB had a return on equity of 8.52% and a net margin of 5.73%.The firm had revenue of $2.94 billion during the quarter. As a group, analysts forecast that SSAB will post 0.4 earnings per share for the current year.

SSAB Company Profile

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.