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

Shares of SSAB (OTCMKTS:SSAAY) hit a new 52-week high during trading on Thursday . The company traded as high as $5.69 and last traded at $5.42, with a volume of 305 shares traded. The stock had previously closed at $5.62.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a research report on Tuesday, July 7th. Morgan Stanley restated an “overweight” rating on shares of SSAB in a research note on Tuesday, July 28th. Dnb Carnegie downgraded SSAB from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Finally, Citigroup reissued a “buy” rating on shares of SSAB in a research report on Monday, July 13th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

SSAB Price Performance

The stock has a market capitalization of $11.44 billion, a price-to-earnings ratio of 19.13 and a beta of 1.40. The company’s 50-day simple moving average is $5.13 and its 200-day simple moving average is $4.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 1.37.

SSAB (OTCMKTS:SSAAY) last posted its earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 EPS for the quarter. The company had revenue of $2.94 billion for the quarter. SSAB had a return on equity of 8.18% and a net margin of 5.73%. Research analysts forecast that SSAB will post 0.4 earnings per share 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.