SSAB (OTCMKTS:SSAAY) Shares Gap Up – Should You Buy?

Shares of SSAB (OTCMKTS:SSAAY) gapped up prior to trading on Tuesday . The stock had previously closed at $4.6950, but opened at $4.8850. SSAB shares last traded at $4.8850, with a volume of 240 shares.

Analysts Set New Price Targets

Several research firms have issued reports on SSAAY. Morgan Stanley reissued an “overweight” rating on shares of SSAB in a research report on Monday, June 29th. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a report on Tuesday. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

SSAB Stock Performance

The company has a market cap of $9.93 billion, a price-to-earnings ratio of 17.17 and a beta of 1.43. The firm’s 50 day simple moving average is $4.94 and its 200-day simple moving average is $4.44. 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 posted its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.09 earnings per share for the quarter. SSAB had a net margin of 5.59% and a return on equity of 8.13%. The firm had revenue of $2.77 billion for the quarter. On average, sell-side analysts predict that SSAB will post 0.38 EPS 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.