SSAB (OTCMKTS:SSAAY) Sets New 1-Year High – Here’s Why

Shares of SSAB (OTCMKTS:SSAAY) reached a new 52-week high on Friday . The stock traded as high as $5.30 and last traded at $5.30, with a volume of 1192 shares. The stock had previously closed at $5.20.

Wall Street Analysts Forecast Growth

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

SSAB Stock Up 1.9%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.39 and a current ratio of 2.48. The company has a market capitalization of $10.56 billion, a price-to-earnings ratio of 18.28 and a beta of 1.40. The stock’s fifty day simple moving average is $4.59 and its two-hundred day simple moving average is $4.20.

SSAB (OTCMKTS:SSAAY) last posted its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.09 EPS for the quarter. SSAB had a net margin of 5.59% and a return on equity of 8.13%. The company had revenue of $2.77 billion during the quarter. On average, sell-side analysts anticipate that SSAB will post 0.38 EPS for the current 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.