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


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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 Wednesday, 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. “

SSAAY has been the topic of a number of other research reports. The Goldman Sachs Group started coverage on SSAB AB (publ) in a research note on Monday, March 22nd. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB AB (publ) in a research note on Monday, February 1st. Credit Suisse Group reiterated an “outperform” rating on shares of SSAB AB (publ) in a research report on Monday, February 1st. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of SSAB AB (publ) in a research report on Tuesday, February 2nd. Finally, Morgan Stanley upgraded SSAB AB (publ) from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, March 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. SSAB AB (publ) presently has a consensus rating of “Hold” and an average target price of $2.25.

Shares of SSAAY stock opened at $2.74 on Wednesday. The stock’s 50-day simple moving average is $2.34 and its 200-day simple moving average is $1.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.69 and a current ratio of 1.55. The firm has a market capitalization of $5.64 billion, a PE ratio of -30.44 and a beta of 1.25. SSAB AB has a fifty-two week low of $0.96 and a fifty-two week high of $2.74.

SSAB AB (publ) (OTCMKTS:SSAAY) last announced its quarterly earnings data on Friday, January 29th. The basic materials company reported $0.02 earnings per share for the quarter. SSAB AB (publ) had a negative return on equity of 3.47% and a negative net margin of 3.25%. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.80 billion. Sell-side analysts forecast that SSAB AB will post -0.05 earnings per share for the current year.

About SSAB AB (publ)

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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