SSAB AB (publ) (OTCMKTS:SSAAY) Price Target Lowered to SEK 68 at JPMorgan Chase & Co.

SSAB AB (publ) (OTCMKTS:SSAAYGet Rating) had its target price reduced by equities researchers at JPMorgan Chase & Co. from SEK 77 to SEK 68 in a report issued on Wednesday, The Fly reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock.

Other analysts have also issued research reports about the stock. Morgan Stanley boosted their target price on shares of SSAB AB (publ) from SEK 82 to SEK 83 in a research note on Monday, April 11th. Danske downgraded shares of SSAB AB (publ) from a “hold” rating to a “sell” rating in a report on Tuesday, June 14th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of SSAB AB (publ) from SEK 59 to SEK 63 and gave the stock a “hold” rating in a report on Thursday, April 14th. Finally, Kepler Capital Markets raised shares of SSAB AB (publ) from a “hold” rating to a “buy” rating and upped their price target for the company from SEK 65 to SEK 80 in a report on Friday, April 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.50.

SSAAY opened at $2.39 on Wednesday. The company’s 50 day simple moving average is $2.91 and its 200 day simple moving average is $3.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.17 and a quick ratio of 1.22. SSAB AB has a 1 year low of $2.26 and a 1 year high of $4.03.

SSAB AB (publ) (OTCMKTS:SSAAYGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter. The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $2.88 billion. SSAB AB (publ) had a net margin of 17.71% and a return on equity of 26.85%. As a group, sell-side analysts anticipate that SSAB AB will post 1.2 earnings per share for the current fiscal year.

SSAB AB (publ) Company Profile (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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