Universal Stainless & Alloy Products (USAP) Downgraded by BidaskClub to Hold

BidaskClub lowered shares of Universal Stainless & Alloy Products (NASDAQ:USAP) from a buy rating to a hold rating in a research report sent to investors on Friday.

Several other research firms also recently commented on USAP. Zacks Investment Research raised Universal Stainless & Alloy Products from a hold rating to a strong-buy rating and set a $30.00 target price on the stock in a research report on Wednesday, July 25th. ValuEngine raised Universal Stainless & Alloy Products from a hold rating to a buy rating in a research report on Thursday, July 19th. Finally, Cowen began coverage on Universal Stainless & Alloy Products in a research report on Tuesday, August 14th. They set an outperform rating and a $33.00 price target on the stock. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $31.50.

Universal Stainless & Alloy Products stock opened at $27.49 on Friday. Universal Stainless & Alloy Products has a 12 month low of $18.53 and a 12 month high of $31.20. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 3.33. The company has a market capitalization of $252.77 million, a PE ratio of 39.31 and a beta of 1.30.

Universal Stainless & Alloy Products (NASDAQ:USAP) last posted its earnings results on Wednesday, July 25th. The basic materials company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. Universal Stainless & Alloy Products had a return on equity of 2.92% and a net margin of 6.43%. The company had revenue of $66.07 million for the quarter. analysts anticipate that Universal Stainless & Alloy Products will post 1.65 EPS for the current year.

In related news, Director M. David Kornblatt sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $29.44, for a total transaction of $73,600.00. Following the sale, the director now owns 23,655 shares of the company’s stock, valued at $696,403.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.60% of the company’s stock.

Large investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC acquired a new stake in Universal Stainless & Alloy Products during the first quarter worth approximately $150,000. Element Capital Management LLC acquired a new stake in Universal Stainless & Alloy Products during the first quarter worth approximately $213,000. Van ECK Associates Corp acquired a new stake in Universal Stainless & Alloy Products during the second quarter worth approximately $202,000. Engineers Gate Manager LP acquired a new stake in Universal Stainless & Alloy Products during the second quarter worth approximately $246,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in Universal Stainless & Alloy Products during the second quarter worth approximately $351,000. 91.17% of the stock is currently owned by institutional investors and hedge funds.

Universal Stainless & Alloy Products Company Profile

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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