Universal Stainless & Alloy Products (NASDAQ:USAP) Upgraded by Zacks Investment Research to Hold

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 Wednesday, 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. “

Separately, ValuEngine downgraded Universal Stainless & Alloy Products from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 11th.

NASDAQ USAP traded up $0.31 during trading hours on Wednesday, hitting $15.25. 1,954 shares of the company were exchanged, compared to its average volume of 62,216. The company’s 50 day simple moving average is $13.69. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 3.73. Universal Stainless & Alloy Products has a 52-week low of $12.53 and a 52-week high of $30.91. The firm has a market capitalization of $125.18 million, a price-to-earnings ratio of 12.50 and a beta of 1.43.

Universal Stainless & Alloy Products (NASDAQ:USAP) last issued its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.10). The business had revenue of $60.27 million for the quarter, compared to analyst estimates of $65.41 million. Universal Stainless & Alloy Products had a return on equity of 3.93% and a net margin of 3.87%. Equities analysts expect that Universal Stainless & Alloy Products will post 1.27 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its holdings in Universal Stainless & Alloy Products by 322.9% in the first 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 in the last quarter. Rhumbline Advisers bought a new stake in Universal Stainless & Alloy Products in the fourth quarter worth $186,000. Municipal Employees Retirement System of Michigan bought a new stake in Universal Stainless & Alloy Products in the fourth quarter worth $229,000. Assenagon Asset Management S.A. bought a new stake in Universal Stainless & Alloy Products in the first quarter worth $270,000. Finally, Wedge Capital Management L L P NC boosted its holdings in Universal Stainless & Alloy Products by 26.8% in the first 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 in the last quarter. 86.35% of the stock is currently owned by institutional investors and hedge funds.

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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