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

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

Several other research firms have also recently commented on USAP. ValuEngine raised shares of Universal Stainless & Alloy Products from a “sell” rating to a “hold” rating in a research note on Wednesday. Cowen set a $22.00 target price on shares of Universal Stainless & Alloy Products and gave the company a “buy” rating in a research note on Wednesday, August 7th.



Shares of USAP stock traded down $0.19 during trading hours on Friday, reaching $17.76. The stock had a trading volume of 11,401 shares, compared to its average volume of 22,488. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.36 and a quick ratio of 1.09. Universal Stainless & Alloy Products has a twelve month low of $12.53 and a twelve month high of $29.35. The firm has a 50-day simple moving average of $15.74 and a 200-day simple moving average of $15.69. The firm has a market capitalization of $144.12 million, a PE ratio of 14.56 and a beta of 1.51.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). Universal Stainless & Alloy Products had a return on equity of 3.39% and a net margin of 3.03%. The firm had revenue of $71.00 million during the quarter, compared to analyst estimates of $67.36 million. On average, equities analysts anticipate that Universal Stainless & Alloy Products will post 1.03 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA grew its stake in shares of Universal Stainless & Alloy Products by 322.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,776 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 1,356 shares during the last quarter. Cadence Capital Management LLC grew its stake in shares of Universal Stainless & Alloy Products by 1.8% in the 1st quarter. Cadence Capital Management LLC now owns 95,480 shares of the basic materials company’s stock worth $1,582,000 after purchasing an additional 1,690 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Universal Stainless & Alloy Products by 26.8% in the 1st quarter. Wedge Capital Management L L P NC now owns 19,542 shares of the basic materials company’s stock worth $324,000 after purchasing an additional 4,133 shares during the last quarter. Walthausen & Co. LLC grew its stake in shares of Universal Stainless & Alloy Products by 6.9% in the 1st quarter. Walthausen & Co. LLC now owns 68,670 shares of the basic materials company’s stock worth $1,138,000 after purchasing an additional 4,420 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Universal Stainless & Alloy Products by 12.9% in the 4th quarter. Bank of America Corp DE now owns 46,090 shares of the basic materials company’s stock worth $748,000 after purchasing an additional 5,254 shares during the last quarter. 80.31% of the stock is currently 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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