Saab (OTCMKTS:SAABY) Trading 6.2% Higher – What’s Next?

Saab AB – Unsponsored ADR (OTCMKTS:SAABY) shares shot up 6.2% on Tuesday . The company traded as high as $31.33 and last traded at $31.03. Approximately 12,379 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 177,805 shares. The stock had previously closed at $29.22.

More Saab News

Here are the key news stories impacting Saab this week:

• Positive Sentiment: NATO chose Saab’s GlobalEye over Boeing’s E-7 for its next airborne early-warning fleet, potentially opening a large, multi-aircraft order for Saab. NATO picks Swedish Saab early-warning planes over US rival
• Positive Sentiment: Reports indicate NATO could buy up to 10 GlobalEyes, with some articles noting the aircraft may be built largely in Canada, which could broaden the program’s industrial footprint and strengthen the deal’s scale. NATO eyes up to 10 Saab surveillance jets built largely in Canada
• Positive Sentiment: The announcement reinforces Saab’s standing in NATO defense modernization efforts and adds momentum to the broader European rearmament theme. NATO to acquire ‘up to’ 10 Saab GlobalEyes for E-3 replacement, says Secretary General

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Pareto Securities upgraded shares of Saab from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 25th. Citigroup raised Saab from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Saab Price Performance

The firm has a market cap of $32.54 billion, a P/E ratio of 38.97 and a beta of -0.09. The firm’s fifty day simple moving average is $28.04 and its 200 day simple moving average is $32.36. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.84 and a current ratio of 1.28.

Saab (OTCMKTS:SAABY) last posted its earnings results on Thursday, April 23rd. The company reported $0.15 EPS for the quarter. The company had revenue of $2.10 billion for the quarter. Saab had a return on equity of 15.43% and a net margin of 7.87%.

Saab Company Profile

Saab AB is a Sweden-based aerospace and defense company that develops, manufactures and supplies products, services and solutions for military and civil security markets. Founded in 1937 as an aircraft manufacturer, the company has diversified into areas including combat aircraft, airborne surveillance, radar and sensor systems, missiles and weapons, naval vessels and underwater systems, as well as command-and-control, training and simulation and cybersecurity solutions.

In aeronautics, Saab is best known for its Gripen family of multi-role fighter aircraft and for airborne surveillance solutions that integrate radars and sensors.