Zacks Investment Research Downgrades SSAB AB (publ) (OTCMKTS:SSAAY) to Hold

SSAB AB (publ) (OTCMKTS:SSAAY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

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 equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. restated an “overweight” rating on shares of SSAB AB (publ) in a research note on Thursday, July 22nd. Barclays reiterated an “overweight” rating on shares of SSAB AB (publ) in a research report on Tuesday, September 14th. Oddo Bhf upgraded SSAB AB (publ) from a “neutral” rating to an “outperform” rating in a research report on Wednesday, June 23rd. Morgan Stanley reiterated an “overweight” rating on shares of SSAB AB (publ) in a research report on Monday, July 26th. Finally, UBS Group reiterated a “buy” rating on shares of SSAB AB (publ) in a research report on Thursday, July 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $2.50.

OTCMKTS:SSAAY opened at $2.40 on Friday. SSAB AB has a twelve month low of $1.50 and a twelve month high of $3.11. The company has a quick ratio of 0.90, a current ratio of 1.71 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $2.73 and a two-hundred day moving average price of $2.65. The company has a market cap of $4.94 billion, a P/E ratio of 9.23 and a beta of 1.23.

SSAB AB (publ) (OTCMKTS:SSAAY) last released its quarterly earnings data on Wednesday, July 21st. The basic materials company reported $0.19 EPS for the quarter. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.88 billion. SSAB AB (publ) had a return on equity of 7.80% and a net margin of 5.92%. As a group, analysts anticipate that SSAB AB will post 0.66 earnings per share for the current fiscal year.

About SSAB AB (publ)

SSAB AB engages in producing steel and construction solutions. It operates through the following five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor and Ruukki Construction. The SSAB Special Steels segment market and sell quenched and tempered steels and hot rolled. The SSAB Europe segment focuses in the strip, plate, and tubular products.

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