SSAB (OTCMKTS:SSAAY) Reaches New 1-Year High – Should You Buy?

SSAB (OTCMKTS:SSAAY) shares hit a new 52-week high on Thursday . The company traded as high as $5.3350 and last traded at $5.26, with a volume of 671 shares changing hands. The stock had previously closed at $4.95.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SSAAY shares. Morgan Stanley restated an “overweight” rating on shares of SSAB in a research note on Monday, June 29th. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a report on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

SSAB Price Performance

The firm has a fifty day moving average of $4.98 and a two-hundred day moving average of $4.48. The stock has a market capitalization of $10.48 billion, a P/E ratio of 18.14 and a beta of 1.43. 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 issued its earnings results on Tuesday, April 28th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter. The company had revenue of $2.77 billion for the quarter. SSAB had a net margin of 5.59% and a return on equity of 8.13%. On average, analysts predict that SSAB will post 0.38 EPS 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.