SSAB (OTCMKTS:SSAAY) Reaches New 1-Year High – Time to Buy?

SSAB (OTCMKTS:SSAAY) hit a new 52-week high on Thursday . The company traded as high as $5.45 and last traded at $5.45, with a volume of 300 shares. The stock had previously closed at $5.15.

Wall Street Analysts Forecast Growth

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

SSAB Stock Up 3.5%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.39 and a current ratio of 2.48. The stock has a market cap of $10.86 billion, a PE ratio of 18.17 and a beta of 1.43. The company’s 50-day moving average price is $5.05 and its 200 day moving average price is $4.57.

SSAB (OTCMKTS:SSAAY) last posted its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $0.11 EPS for the quarter. The firm had revenue of $2.94 billion during the quarter. SSAB had a return on equity of 8.52% and a net margin of 5.73%. As a group, analysts forecast that SSAB will post 0.4 EPS 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.