Universal Stainless & Alloy Products (NASDAQ:USAP) Rating Increased to Hold at Zacks Investment Research

Universal Stainless & Alloy Products (NASDAQ:USAP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday, December 26th.

According to Zacks, “UNIVERSAL STAINLESS & ALLOY is a mini-mill that manufactures and markets semi-finished specialty steels, including stainless steel, tool steels and other alloy steels. It also provides conversion services on materials supplied by customers that lack certain of the Company’s production facilities or that are subject to their own capacity constraints. “

Separately, KeyCorp restated a “hold” rating on shares of Universal Stainless & Alloy Products in a research report on Sunday, October 15th.

Universal Stainless & Alloy Products (USAP) opened at $22.86 on Tuesday. The firm has a market cap of $163.36, a PE ratio of -87.92 and a beta of 0.90. The company has a current ratio of 3.41, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40. Universal Stainless & Alloy Products has a 1 year low of $11.60 and a 1 year high of $23.04.

Universal Stainless & Alloy Products (NASDAQ:USAP) last posted its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $0.02 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. The company had revenue of $50.90 million during the quarter, compared to analyst estimates of $51.19 million. Universal Stainless & Alloy Products had a negative net margin of 0.51% and a negative return on equity of 0.57%. The business’s revenue was up 28.2% on a year-over-year basis. equities analysts forecast that Universal Stainless & Alloy Products will post 0.2 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nationwide Fund Advisors boosted its position in Universal Stainless & Alloy Products by 154.8% during the third quarter. Nationwide Fund Advisors now owns 6,273 shares of the basic materials company’s stock worth $131,000 after purchasing an additional 3,811 shares during the period. JPMorgan Chase & Co. boosted its position in Universal Stainless & Alloy Products by 1,400.0% during the third quarter. JPMorgan Chase & Co. now owns 7,500 shares of the basic materials company’s stock worth $155,000 after purchasing an additional 7,000 shares during the period. Macquarie Group Ltd. bought a new position in Universal Stainless & Alloy Products during the third quarter worth about $172,000. Smith Moore & CO. bought a new position in Universal Stainless & Alloy Products during the third quarter worth about $250,000. Finally, EAM Investors LLC bought a new position in Universal Stainless & Alloy Products during the second quarter worth about $562,000. Institutional investors own 85.56% of the company’s stock.

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Universal Stainless & Alloy Products Company Profile

Universal Stainless & Alloy Products, Inc manufactures and markets semi-finished and finished specialty steel products, including stainless steel, nickel alloys, tool steel and certain other alloyed steels. The Company’s manufacturing process involves melting, remelting, heat treating, hot and cold rolling, forging, machining and cold drawing of semi-finished and finished specialty steels.

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