Zacks: Universal Stainless & Alloy Products (NASDAQ:USAP) Receives Average Rating of “Strong Buy” from Analysts

Shares of Universal Stainless & Alloy Products (NASDAQ:USAP) have been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Analysts have set a 1-year consensus target price of $20.50 for the company and are predicting that the company will post $0.20 earnings per share for the current quarter, according to Zacks. Zacks has also given Universal Stainless & Alloy Products an industry rank of 222 out of 255 based on the ratings given to related companies.

USAP has been the topic of a number of recent research reports. KeyCorp cut their target price on shares of Universal Stainless & Alloy Products from $24.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. ValuEngine upgraded shares of Universal Stainless & Alloy Products from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research lowered shares of Universal Stainless & Alloy Products from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 19th.

NASDAQ:USAP traded up $0.20 on Tuesday, reaching $14.20. 3,600 shares of the company’s stock were exchanged, compared to its average volume of 41,835. The company has a quick ratio of 1.06, a current ratio of 4.51 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $123.06 million, a price-to-earnings ratio of 11.64 and a beta of 1.46. The business has a fifty day moving average of $14.02 and a 200-day moving average of $14.80. Universal Stainless & Alloy Products has a 52-week low of $12.30 and a 52-week high of $19.16.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.12). Universal Stainless & Alloy Products had a return on equity of 1.90% and a net margin of 1.90%. The firm had revenue of $56.57 million for the quarter, compared to analysts’ expectations of $65.80 million. As a group, equities analysts anticipate that Universal Stainless & Alloy Products will post 0.66 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC purchased a new stake in shares of Universal Stainless & Alloy Products during the second quarter worth approximately $204,000. First Trust Advisors LP acquired a new position in Universal Stainless & Alloy Products in the third quarter valued at approximately $311,000. Monarch Partners Asset Management LLC boosted its holdings in Universal Stainless & Alloy Products by 51.1% in the second quarter. Monarch Partners Asset Management LLC now owns 26,150 shares of the basic materials company’s stock valued at $418,000 after purchasing an additional 8,840 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Universal Stainless & Alloy Products by 109.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 29,500 shares of the basic materials company’s stock valued at $472,000 after purchasing an additional 15,390 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in Universal Stainless & Alloy Products in the second quarter valued at approximately $686,000. Hedge funds and other institutional investors own 75.92% of the company’s stock.

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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