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

Key Points

• SSAB shares gapped up before trading Friday, opening at $4.90 versus the prior close of $4.58 (about +2.9%), with the last trade at $4.90 on very low reported volume (100 shares).
• Analysts' consensus is a “Moderate Buy”: three analysts rate SSAB a Buy and one rates it Hold, with recent coverage from Citigroup (Buy) and Deutsche Bank (Hold).
• Key fundamentals: market cap ~$9.77 billion, P/E 16.9; latest quarter EPS $0.09 on $2.77 billion revenue, net margin 5.59%, and analysts forecast ~0.38 EPS for the current fiscal year.

SSAB (OTCMKTS:SSAAY - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $4.58, but opened at $4.90. SSAB shares last traded at $4.90, with a volume of 100 shares.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of SSAB from an "overweight" rating to an "overweight" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SSAB in a report on Monday, April 13th. Finally, Citigroup restated a "buy" rating on shares of SSAB in a report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, SSAB presently has an average rating of "Moderate Buy".

SSAB Stock Up 2.9%

The company has a market capitalization of $9.77 billion, a P/E ratio of 16.90 and a beta of 1.39. 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 fifty day moving average is $4.29 and its 200 day moving average is $3.96.

SSAB (OTCMKTS:SSAAY - Get Free Report) last announced its quarterly 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 during the quarter. SSAB had a net margin of 5.59% and a return on equity of 8.13%. Research analysts predict that SSAB will post 0.38 EPS for the current fiscal 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.

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