Universal Stainless & Alloy Products (NASDAQ:USAP) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Universal Stainless & Alloy Products (NASDAQ:USAP) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, Zacks.com reports. They currently have $11.00 price objective on the basic materials company’s stock.

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. “

Universal Stainless & Alloy Products stock opened at $10.10 on Thursday. Universal Stainless & Alloy Products has a fifty-two week low of $5.12 and a fifty-two week high of $12.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.60 and a quick ratio of 1.13. The stock has a market cap of $89.84 million, a P/E ratio of -4.02 and a beta of 1.57. The firm has a 50-day moving average price of $10.07.

Universal Stainless & Alloy Products (NASDAQ:USAP) last posted its earnings results on Tuesday, April 20th. The basic materials company reported ($0.22) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.64) by $0.42. The business had revenue of $37.04 million during the quarter, compared to the consensus estimate of $33.89 million. Universal Stainless & Alloy Products had a negative return on equity of 6.72% and a negative net margin of 14.00%. Sell-side analysts forecast that Universal Stainless & Alloy Products will post -1.05 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Minerva Advisors LLC raised its stake in Universal Stainless & Alloy Products by 4.5% during the 1st quarter. Minerva Advisors LLC now owns 483,029 shares of the basic materials company’s stock valued at $4,913,000 after acquiring an additional 20,663 shares during the last quarter. Renaissance Technologies LLC raised its stake in Universal Stainless & Alloy Products by 394.2% during the 4th quarter. Renaissance Technologies LLC now owns 118,600 shares of the basic materials company’s stock valued at $887,000 after acquiring an additional 94,600 shares during the last quarter. Brandywine Global Investment Management LLC raised its stake in Universal Stainless & Alloy Products by 1.2% during the 4th quarter. Brandywine Global Investment Management LLC now owns 189,602 shares of the basic materials company’s stock valued at $1,418,000 after acquiring an additional 2,329 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Universal Stainless & Alloy Products by 29.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 26,110 shares of the basic materials company’s stock valued at $266,000 after acquiring an additional 6,000 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Universal Stainless & Alloy Products by 13.8% during the 4th quarter. BlackRock Inc. now owns 147,273 shares of the basic materials company’s stock valued at $1,102,000 after acquiring an additional 17,901 shares during the last quarter. 63.76% of the stock is owned by hedge funds and other institutional investors.

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. Its products include stainless steel, nickel alloys, tool steel, and various other alloyed steels. The company offers semi-finished and finished long products in the form of ingots, blooms, billets, and bars; flat rolled products, such as slabs and plates; and customized shapes primarily for original equipment manufacturers (OEMs), which are cold rolled from purchased coiled strip, flat bar, or extruded bar.

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