SSAB (OTCMKTS:SSAAY) Sets New 1-Year High – What’s Next?

SSAB (OTCMKTS:SSAAY)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $5.69 and last traded at $5.42, with a volume of 305 shares changing hands. The stock had previously closed at $5.62.

Analysts Set New Price Targets

Several analysts recently issued reports on SSAAY shares. Citigroup reaffirmed a “buy” rating on shares of SSAB in a report on Monday, July 13th. Morgan Stanley restated an “overweight” rating on shares of SSAB in a research note on Tuesday, July 28th. Dnb Carnegie cut shares of SSAB from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a report on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

SSAB Trading Up 2.9%

The stock has a market cap of $11.00 billion, a P/E ratio of 18.40 and a beta of 1.40. The firm’s 50 day simple moving average is $5.14 and its two-hundred day simple moving average is $4.68. The company has a quick ratio of 1.37, a current ratio of 2.43 and a debt-to-equity ratio of 0.10.

SSAB (OTCMKTS:SSAAY) last posted its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share (EPS) for the quarter. SSAB had a net margin of 5.73% and a return on equity of 8.18%. The company had revenue of $2.94 billion for the quarter. As a group, equities research analysts predict that SSAB will post 0.4 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.