Zacks Investment Research Downgrades Universal Stainless & Alloy Products (NASDAQ:USAP) to Sell

Universal Stainless & Alloy Products (NASDAQ:USAP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Zacks.com reports.

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, ValuEngine cut Yirendai from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 26th.



Shares of USAP stock traded up $0.48 on Friday, reaching $15.51. 43,702 shares of the company’s stock traded hands, compared to its average volume of 106,027. Universal Stainless & Alloy Products has a 12-month low of $12.53 and a 12-month high of $30.91. The company has a quick ratio of 0.81, a current ratio of 3.73 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $136.02 million, a P/E ratio of 12.71 and a beta of 1.57. The company has a 50 day moving average of $14.26.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.10). The firm had revenue of $60.27 million for the quarter, compared to analyst estimates of $65.41 million. Universal Stainless & Alloy Products had a net margin of 3.87% and a return on equity of 3.93%. On average, equities research analysts expect that Universal Stainless & Alloy Products will post 1.2 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers purchased a new position in shares of Universal Stainless & Alloy Products in the 4th quarter valued at approximately $186,000. BlackRock Inc. raised its position in shares of Universal Stainless & Alloy Products by 20.3% in the 4th quarter. BlackRock Inc. now owns 578,544 shares of the basic materials company’s stock valued at $9,378,000 after purchasing an additional 97,483 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Universal Stainless & Alloy Products by 24.3% in the 4th quarter. Bank of New York Mellon Corp now owns 49,447 shares of the basic materials company’s stock valued at $801,000 after purchasing an additional 9,680 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Universal Stainless & Alloy Products by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 729,467 shares of the basic materials company’s stock valued at $11,825,000 after purchasing an additional 5,312 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Universal Stainless & Alloy Products by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 90,491 shares of the basic materials company’s stock worth $1,466,000 after buying an additional 3,807 shares during the period. 86.35% of the stock is owned by hedge funds and other institutional investors.

About Universal Stainless & Alloy Products

Universal Stainless & Alloy Products, Inc, together with its subsidiaries, manufactures and markets semi-finished and finished specialty steel products in the United States and internationally. The company's products include stainless steel, nickel alloys, tool steel, and various other alloyed steels.

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