SSAB (OTCMKTS:SSAAY) Shares Gap Up – Should You Buy?

SSAB (OTCMKTS:SSAAY) shares gapped up before the market opened on Wednesday . The stock had previously closed at $4.95, but opened at $5.29. SSAB shares last traded at $5.29, with a volume of 120 shares trading hands.

Analysts Set New Price Targets

SSAAY has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research note on Tuesday, July 7th. Citigroup restated a “buy” rating on shares of SSAB in a research report on Monday. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of SSAB in a research note on Monday, June 29th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

SSAB Stock Performance

The company has a current ratio of 2.48, a quick ratio of 1.39 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average price is $4.96 and its 200 day moving average price is $4.47. The company has a market capitalization of $10.54 billion, a price-to-earnings ratio of 18.24 and a beta of 1.43.

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