Universal Stainless & Alloy Products (NASDAQ:USAP) Rating Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Universal Stainless & Alloy Products (NASDAQ:USAP) from a hold rating to a strong sell rating in a research report sent to investors on Saturday morning, 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. “

Several other brokerages have also weighed in on USAP. ValuEngine raised Universal Stainless & Alloy Products from a sell rating to a hold rating in a report on Wednesday, October 2nd. Cowen set a $22.00 price objective on Universal Stainless & Alloy Products and gave the stock a buy rating in a report on Wednesday, August 7th. Finally, KeyCorp decreased their price objective on Universal Stainless & Alloy Products from $24.00 to $20.00 and set an overweight rating for the company in a report on Monday, October 14th.

Shares of Universal Stainless & Alloy Products stock opened at $13.67 on Friday. Universal Stainless & Alloy Products has a 1 year low of $12.53 and a 1 year high of $22.67. The firm has a market cap of $122.85 million, a PE ratio of 11.20 and a beta of 1.46. The stock has a fifty day moving average price of $14.95 and a 200-day moving average price of $15.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.36 and a quick ratio of 1.09.

Universal Stainless & Alloy Products (NASDAQ:USAP) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). Universal Stainless & Alloy Products had a net margin of 3.03% and a return on equity of 3.39%. The business had revenue of $71.00 million for the quarter, compared to analysts’ expectations of $67.36 million. As a group, equities analysts anticipate that Universal Stainless & Alloy Products will post 0.93 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in USAP. Citadel Advisors LLC purchased a new stake in Universal Stainless & Alloy Products in the 2nd quarter worth about $204,000. Monarch Partners Asset Management LLC boosted its stake in Universal Stainless & Alloy Products by 51.1% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 26,150 shares of the basic materials company’s stock worth $418,000 after purchasing an additional 8,840 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in Universal Stainless & Alloy Products by 109.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 29,500 shares of the basic materials company’s stock worth $472,000 after purchasing an additional 15,390 shares during the period. Marshall Wace LLP bought a new position in Universal Stainless & Alloy Products in the 1st quarter worth about $595,000. Finally, Paloma Partners Management Co bought a new position in Universal Stainless & Alloy Products in the 2nd quarter worth about $686,000. 80.32% of the stock is owned by institutional investors.

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.

See Also: What is a conference call?

Get a free copy of the Zacks research report on Universal Stainless & Alloy Products (USAP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Universal Stainless & Alloy Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Stainless & Alloy Products and related companies with MarketBeat.com's FREE daily email newsletter.