SSAB (OTCMKTS:SSAAY) Sets New 1-Year High – Here’s Why

SSAB (OTCMKTS:SSAAY)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $4.10 and last traded at $4.10, with a volume of 3158 shares changing hands. The stock had previously closed at $4.01.

Analyst Upgrades and Downgrades

SSAAY has been the topic of a number of research reports. Danske raised SSAB from a “hold” rating to a “buy” rating in a research report on Thursday, October 23rd. Citigroup reiterated 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 issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

SSAB Stock Performance

The company’s 50-day simple moving average is $3.66 and its 200 day simple moving average is $3.28. The stock has a market cap of $8.15 billion, a P/E ratio of 16.35 and a beta of 1.31. The company has a current ratio of 2.38, a quick ratio of 1.30 and a debt-to-equity ratio of 0.06.

SSAB (OTCMKTS:SSAAY) last issued its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.08 EPS for the quarter. The company had revenue of $2.41 billion during the quarter. SSAB had a return on equity of 7.33% and a net margin of 5.17%. As a group, sell-side 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.