SSAB (OTCMKTS:SSAAY) Hits New 1-Year High – Still a Buy?

SSAB (OTCMKTS:SSAAY)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $5.0830 and last traded at $5.0830, with a volume of 110 shares changing hands. The stock had previously closed at $4.82.

Wall Street Analysts Forecast Growth

SSAAY has been the subject of several research reports. Citigroup reiterated a “buy” rating on shares of SSAB in a report on Wednesday, May 20th. Morgan Stanley upgraded shares of SSAB from an “overweight” rating to an “overweight” rating in a report on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a report on Monday, April 13th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, SSAB presently has a consensus rating of “Moderate Buy”.

SSAB Trading Up 5.5%

The company’s 50 day simple moving average is $4.41 and its 200 day simple moving average is $4.10. The firm has a market cap of $10.13 billion, a price-to-earnings ratio of 17.53 and a beta of 1.39. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.48 and a quick ratio of 1.39.

SSAB (OTCMKTS:SSAAY) last posted its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.09 EPS for the quarter. The business had revenue of $2.77 billion during the quarter. SSAB had a net margin of 5.59% and a return on equity of 8.13%. As a group, research analysts expect that SSAB will post 0.38 earnings per share 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.