JPMorgan Chase & Co. Reiterates “Overweight” Rating for SSAB AB (publ) (OTCMKTS:SSAAY)

JPMorgan Chase & Co. reaffirmed their overweight rating on shares of SSAB AB (publ) (OTCMKTS:SSAAY) in a research report sent to investors on Thursday morning, The Fly reports.

A number of other brokerages also recently weighed in on SSAAY. Morgan Stanley reaffirmed an overweight rating on shares of SSAB AB (publ) in a research report on Tuesday, June 22nd. Oddo Bhf raised SSAB AB (publ) from a neutral rating to an outperform rating in a research report on Wednesday, June 23rd. Citigroup reaffirmed a buy rating on shares of SSAB AB (publ) in a research report on Tuesday, April 27th. AlphaValue raised SSAB AB (publ) to a reduce rating in a research report on Tuesday, April 27th. Finally, Zacks Investment Research downgraded SSAB AB (publ) from a buy rating to a hold rating in a report on Saturday, July 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $3.00.

Shares of SSAB AB (publ) stock traded up $0.29 during trading on Thursday, hitting $2.75. 850 shares of the stock traded hands, compared to its average volume of 1,034. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 45.83 and a beta of 1.23. The company has a current ratio of 1.64, a quick ratio of 0.80 and a debt-to-equity ratio of 0.17. SSAB AB has a 52-week low of $1.44 and a 52-week high of $3.02. The firm’s fifty day moving average is $2.57.

SSAB AB (publ) (OTCMKTS:SSAAY) last announced its quarterly earnings results on Monday, April 26th. The basic materials company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.40 billion. SSAB AB (publ) had a return on equity of 1.66% and a net margin of 1.42%. On average, equities research analysts anticipate that SSAB AB will post 0.61 earnings per share for the current fiscal year.

SSAB AB (publ) Company Profile

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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Analyst Recommendations for SSAB AB (publ) (OTCMKTS:SSAAY)

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