Saab (OTCMKTS:SAABY) Shares Gap Up – Still a Buy?

Saab AB – Unsponsored ADR (OTCMKTS:SAABY) shares gapped up prior to trading on Friday . The stock had previously closed at $27.12, but opened at $29.1001. Saab shares last traded at $29.42, with a volume of 4,860 shares trading hands.

Key Headlines Impacting Saab

Here are the key news stories impacting Saab this week:

• Positive Sentiment: Saab reported second-quarter operating profit above forecasts, helped by surging defense demand and higher sales and order bookings. Defence group Saab operating profit beats forecast
• Positive Sentiment: The company said its order backlog hit a record level, with demand for military equipment driving a fifth straight quarter of growth in the order book. Sweden’s Saab posts record orders as fighter jet maker cashes in on higher defense spending
• Positive Sentiment: Saab backed its medium-term growth guidance after signing several large recent orders, signaling management confidence in continued demand. Saab Backs Guidance as Defense Demand Remains Strong
• Positive Sentiment: Saab won new work to equip German Navy frigates, adding to its backlog and reinforcing the investment case for its combat systems business. Saab receives order to equip the German Navy´s new frigates
• Neutral Sentiment: CEO commentary in media interviews focused on Europe’s need for more joint defense procurement and industry partnerships, which highlights the policy backdrop but does not directly change near-term fundamentals. Saab CEO: Europe needs joint defense procurement and industry partnerships

Analyst Ratings Changes

A number of research firms have weighed in on SAABY. Citigroup raised shares of Saab from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Pareto Securities upgraded shares of Saab from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Saab Stock Up 10.2%

The business’s fifty day moving average price is $27.67 and its 200 day moving average price is $32.30. The firm has a market capitalization of $31.39 billion, a price-to-earnings ratio of 41.89 and a beta of -0.09. The company has a current ratio of 1.28, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29.

Saab (OTCMKTS:SAABY) last issued its quarterly earnings results on Friday, July 17th. The company reported $0.21 earnings per share for the quarter. The firm had revenue of $2.72 billion during the quarter. Saab had a net margin of 7.87% and a return on equity of 15.43%.

Saab Company Profile

Saab AB is a Sweden-based aerospace and defense company that develops, manufactures and supplies products, services and solutions for military and civil security markets. Founded in 1937 as an aircraft manufacturer, the company has diversified into areas including combat aircraft, airborne surveillance, radar and sensor systems, missiles and weapons, naval vessels and underwater systems, as well as command-and-control, training and simulation and cybersecurity solutions.

In aeronautics, Saab is best known for its Gripen family of multi-role fighter aircraft and for airborne surveillance solutions that integrate radars and sensors.