SSAB (OTCMKTS:SSAAY) Shares Gap Up – Still a Buy?

SSAB (OTCMKTS:SSAAY)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $5.40, but opened at $5.5698. SSAB shares last traded at $5.5698, with a volume of 205 shares traded.

Analyst Ratings Changes

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

SSAB Price Performance

The company has a 50-day moving average of $5.19 and a 200-day moving average of $4.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.37 and a current ratio of 2.43. The stock has a market cap of $11.10 billion, a price-to-earnings ratio of 18.57 and a beta of 1.40.

SSAB (OTCMKTS:SSAAY) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share for the quarter. The company had revenue of $2.94 billion for the quarter. SSAB had a return on equity of 8.18% and a net margin of 5.73%. As a group, equities research analysts predict that SSAB will post 0.39 earnings per share for the current 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.