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

SSAB (OTCMKTS:SSAAY) shares 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 changing hands. The stock had previously closed at $4.13.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Danske raised SSAB from a “hold” rating to a “buy” rating in a research report on Thursday, October 23rd. Citigroup restated a “buy” rating on shares of SSAB in a research note on Friday, December 5th. 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, the stock has an average rating of “Moderate Buy”.

SSAB Stock Performance

The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of 17.20 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. The firm has a 50-day moving average of $3.73 and a 200-day moving average of $3.31.

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 predict 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.