SSAB (OTCMKTS:SSAAY) Stock Moved Up to “Strong-Buy” by Dnb Carnegie

Dnb Carnegie upgraded shares of SSAB (OTCMKTS:SSAAY) from a hold rating to a strong-buy rating in a research report report published on Thursday morning,Zacks reports.

SSAAY has been the subject of a number of other research reports. Citigroup restated a “buy” rating on shares of SSAB in a research report on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a report on Friday, September 4th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of SSAB in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, SSAB presently has a consensus rating of “Buy”.

SSAB Trading Down 0.7%

OTCMKTS:SSAAY opened at $4.95 on Thursday. The company has a quick ratio of 1.37, a current ratio of 2.43 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $9.87 billion, a PE ratio of 16.50 and a beta of 1.40. The stock’s 50 day moving average price is $5.32 and its 200 day moving average price is $4.83. SSAB has a 52-week low of $3.04 and a 52-week high of $5.74.

SSAB (OTCMKTS:SSAAY) last issued its quarterly earnings results on Wednesday, October 28th. The basic materials company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). SSAB had a return on equity of 8.19% and a net margin of 5.65%. The business had revenue of $2.66 billion for the quarter. On average, research analysts anticipate that SSAB will post 0.39 EPS for the current year.

SSAB Company Profile

SSAB AB is a Sweden-based steel company that develops and produces high-strength, advanced high-strength, wear-resistant and other specialty steels. Its products are used in transportation, construction, manufacturing, mining, agriculture and energy applications, where improved strength, durability and reduced weight can support longer service life and greater efficiency.

The company markets products under brands including Strenx structural steel, Hardox wear plate, Docol automotive steel, GreenCoat color-coated steel and SSAB Zero, a steel product made with virtually fossil-free energy and production methods.