SSAB (OTCMKTS:SSAAY) Reaches New 52-Week High – Should You Buy?

SSAB (OTCMKTS:SSAAY) hit a new 52-week high during trading on Friday . The stock traded as high as $3.90 and last traded at $3.90, with a volume of 2000 shares traded. The stock had previously closed at $3.7250.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Danske raised SSAB from a “hold” rating to a “buy” rating in a report on Thursday, October 23rd. Citigroup reissued a “buy” rating on shares of SSAB in a report on Friday, December 5th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

SSAB Stock Up 4.7%

The company has a market cap of $7.77 billion, a P/E ratio of 15.60 and a beta of 1.31. The firm’s 50-day simple moving average is $3.52 and its 200 day simple moving average is $3.21. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.30 and a current ratio of 2.38.

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