Zacks Investment Research Upgrades Ssab Svenskt (SSAAY) to “Buy”
Ssab Svenskt (OTCMKTS:SSAAY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The brokerage presently has a $2.75 target price on the basic materials company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 18.03% from the stock’s current price.
According to Zacks, “SSAB Svenskt Stal AB engages in the provision of steel and construction solutions. The company’s operating segment consists of SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor and Ruukki Construction. SSAB Special Steels segment provides marketing and sales of SSAB’s quenched and tempered steels. SSAB EMEA segment pertains to Europe, the Middle East and Africa. SSAB Americas segment refers to North and Latin America. SSAB APAC segment consists of Asia, Australia and New Zealand. Tibnor segment is the distribution of steel and metals. Ruukki Construction is engaged in the sales and production of energy-efficient building and construction solutions. It’s also operates in the Automotive, Construction Machinery, Material Handling and Heavy Transport segment. SSAB Svenskt Stal AB is headquartered in Stockholm, Sweden. “
Shares of Ssab Svenskt (OTCMKTS SSAAY) opened at 2.33 on Friday. The stock has a market cap of $4.80 billion and a P/E ratio of 17.20. Ssab Svenskt has a 12-month low of $1.47 and a 12-month high of $3.61. The company’s 50-day moving average is $1.57 and its 200-day moving average is $1.62.
About Ssab Svenskt
SSAB AB produces and sells steel products in Sweden and internationally. It operates in five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The company offers wear steels for maximum payload and service life; structural steel; prehardened tool steel; and protection plates.
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