Saab (OTCMKTS:SAABY) Upgraded by Citigroup to Hold Rating

Saab (OTCMKTS:SAABY) was upgraded by Citigroup from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Saab Stock Up 3.1%

Shares of Saab stock opened at $26.30 on Monday. The firm has a market cap of $28.16 billion, a price-to-earnings ratio of 33.72 and a beta of -0.14. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.30 and a quick ratio of 0.90. Saab has a 52-week low of $22.00 and a 52-week high of $40.77. The stock has a 50-day simple moving average of $32.55 and a 200-day simple moving average of $32.01.

Saab (OTCMKTS:SAABY) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.15 earnings per share (EPS) for the quarter. The business had revenue of $2.10 billion during the quarter. Saab had a return on equity of 15.98% and a net margin of 7.87%.

Saab News Roundup

Here are the key news stories impacting Saab this week:

• Neutral Sentiment: Multiple reports say Alex Saab was deported to the United States to face legal proceedings, but the news is about the Venezuelan figure rather than Saab AB. Venezuela Extradites Billionaire Tycoon to the U.S.
• Neutral Sentiment: Coverage also says Venezuela’s government is stepping up cooperation with the U.S., and that the Maduro investigation is deepening, which is unrelated to Saab AB’s business fundamentals. Venezuela says it deported Alex Saab, a key Maduro ally, to face legal proceedings in the U.S.
• Neutral Sentiment: Other articles describe Alex Saab as Maduro’s “bag man” and a businessman tied to fraud allegations, but this does not appear to create a direct catalyst for Saab AB shares. Maduro’s alleged ‘bag man’ Alex Saab arrested less than 3 years after Biden pardon: report

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.