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

SSAB (OTCMKTS:SSAAY)’s share price gapped up prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SSAAY. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a research note on Tuesday, July 7th. Citigroup reiterated a “buy” rating on shares of SSAB in a research note on Monday, July 13th. Dnb Carnegie downgraded shares of SSAB from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Finally, Morgan Stanley restated 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 issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

SSAB Stock Performance

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

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