SSAB AB (publ) (OTCMKTS:SSAAY – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday, Zacks.com reports. The firm presently has a $3.75 target price on the basic materials company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 14.33% from the stock’s previous close.
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. “
A number of other brokerages have also commented on SSAAY. JPMorgan Chase & Co. dropped their target price on SSAB AB (publ) from SEK 49.80 to SEK 49.60 in a research report on Friday, January 14th. Deutsche Bank Aktiengesellschaft upped their price objective on SSAB AB (publ) from SEK 59 to SEK 63 and gave the stock a “hold” rating in a research report on Thursday, April 14th. Finally, Morgan Stanley upped their price objective on SSAB AB (publ) from SEK 82 to SEK 83 in a research report on Monday, April 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SSAB AB (publ) has an average rating of “Buy” and an average target price of $49.84.
Shares of OTCMKTS SSAAY opened at $3.28 on Friday. The business’s 50 day moving average price is $3.30 and its 200 day moving average price is $2.95. The firm has a market cap of $6.76 billion, a P/E ratio of 3.95 and a beta of 1.33. SSAB AB has a 52 week low of $2.28 and a 52 week high of $4.03. The company has a quick ratio of 1.07, a current ratio of 2.06 and a debt-to-equity ratio of 0.12.
SSAB AB (publ) (OTCMKTS:SSAAY – Get Rating) last issued its earnings results on Friday, January 28th. The basic materials company reported $0.30 EPS for the quarter. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $2.87 billion. SSAB AB (publ) had a return on equity of 22.31% and a net margin of 15.20%. As a group, research analysts expect that SSAB AB will post 0.69 earnings per share for the current year.
About SSAB AB (publ) (Get Rating)
SSAB AB (publ) produces and sells steel products in the United States, Sweden, Finland, Germany, Denmark, and internationally. It operates through five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The SSAB Special Steels segment offers quenched and tempered steels, and hot-rolled advanced high-strength steel products.
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