Zacks Investment Research upgraded shares of SSAB SVENSKT (OTCMKTS:SSAAY) from a hold rating to a buy rating in a report released on Friday. They currently have $2.75 price objective on the basic materials company’s stock.

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. “

Shares of SSAB SVENSKT (SSAAY) opened at 2.33 on Friday. SSAB SVENSKT has a 12 month low of $1.47 and a 12 month high of $3.61. The stock has a 50 day moving average of $1.57 and a 200-day moving average of $1.62. The company has a market cap of $4.80 billion and a price-to-earnings ratio of 17.20.

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About SSAB SVENSKT

SSAB AB produces and sells steel products in Sweden and internationally. It operates in five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The company offers wear steels for maximum payload and service life; structural steel; prehardened tool steel; and protection plates.

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