Universal Stainless & Alloy Products, Inc. (USAP) Stock Rating Lowered by Zacks Investment Research

Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

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 reaffirmed a “hold” rating on shares of Universal Stainless & Alloy Products in a research note on Friday, September 1st.

Universal Stainless & Alloy Products (NASDAQ USAP) traded down 1.98% during mid-day trading on Thursday, reaching $20.75. The company had a trading volume of 20,627 shares. The firm’s 50 day moving average price is $20.69 and its 200-day moving average price is $19.01. Universal Stainless & Alloy Products has a 12 month low of $9.13 and a 12 month high of $23.04. The company’s market capitalization is $149.98 million.

Universal Stainless & Alloy Products (NASDAQ:USAP) last posted its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $0.02 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. The firm had revenue of $50.90 million during the quarter, compared to the consensus estimate of $51.19 million. Universal Stainless & Alloy Products had a negative return on equity of 0.53% and a negative net margin of 1.08%. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. Equities research analysts anticipate that Universal Stainless & Alloy Products will post $0.17 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Eidelman Virant Capital raised its stake in Universal Stainless & Alloy Products by 1.6% during the 2nd quarter. Eidelman Virant Capital now owns 103,753 shares of the basic materials company’s stock valued at $2,023,000 after acquiring an additional 1,653 shares during the last quarter. Renaissance Technologies LLC raised its stake in Universal Stainless & Alloy Products by 3.9% during the 1st quarter. Renaissance Technologies LLC now owns 50,700 shares of the basic materials company’s stock valued at $862,000 after acquiring an additional 1,900 shares during the last quarter. Northern Trust Corp raised its stake in Universal Stainless & Alloy Products by 5.3% during the 2nd quarter. Northern Trust Corp now owns 65,934 shares of the basic materials company’s stock valued at $1,286,000 after acquiring an additional 3,317 shares during the last quarter. Nationwide Fund Advisors raised its stake in Universal Stainless & Alloy Products by 154.8% during the 3rd quarter. Nationwide Fund Advisors now owns 6,273 shares of the basic materials company’s stock valued at $131,000 after acquiring an additional 3,811 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in Universal Stainless & Alloy Products by 13.3% during the 2nd quarter. Acadian Asset Management LLC now owns 35,706 shares of the basic materials company’s stock valued at $696,000 after acquiring an additional 4,193 shares during the last quarter. 81.09% of the stock is owned by hedge funds and other institutional investors.

About Universal Stainless & Alloy Products

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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