SSAB (OTCMKTS:SSAAY) Hits New 1-Year High – Should You Buy?

SSAB (OTCMKTS:SSAAY)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $5.30 and last traded at $5.30, with a volume of 1192 shares. The stock had previously closed at $5.20.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Morgan Stanley upgraded SSAB from an “overweight” rating to an “overweight” rating in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a report on Monday, April 13th. Finally, Citigroup restated a “buy” rating on shares of SSAB in a report on Wednesday, May 20th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

SSAB Stock Up 1.9%

The firm has a market capitalization of $10.56 billion, a PE ratio of 18.28 and a beta of 1.40. The company has a fifty day simple moving average of $4.56 and a two-hundred day simple moving average of $4.20. 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 issued its earnings results on Tuesday, April 28th. The basic materials company reported $0.09 earnings per share for the quarter. SSAB had a return on equity of 8.13% and a net margin of 5.59%.The business had revenue of $2.77 billion during the quarter. Analysts forecast that SSAB will post 0.38 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.