KeyCorp Cuts Universal Stainless & Alloy Products (NASDAQ:USAP) Price Target to $20.00

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Universal Stainless & Alloy Products (NASDAQ:USAP) had its price objective decreased by stock analysts at KeyCorp from $24.00 to $20.00 in a report released on Monday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s target price indicates a potential upside of 44.09% from the stock’s current price.

A number of other research firms have also recently commented on USAP. Cowen set a $22.00 price target on Universal Stainless & Alloy Products and gave the stock a “buy” rating in a report on Wednesday, August 7th. Zacks Investment Research upgraded Universal Stainless & Alloy Products from a “sell” rating to a “hold” rating in a report on Friday. Finally, ValuEngine upgraded Universal Stainless & Alloy Products from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.

Shares of NASDAQ USAP traded down $0.81 during mid-day trading on Monday, hitting $13.88. The company had a trading volume of 120 shares, compared to its average volume of 25,454. Universal Stainless & Alloy Products has a one year low of $12.53 and a one year high of $25.07. The company has a current ratio of 4.36, a quick ratio of 1.09 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $120.75 million, a PE ratio of 11.50 and a beta of 1.46. The firm has a 50-day simple moving average of $15.33 and a two-hundred day simple moving average of $15.33.

Universal Stainless & Alloy Products (NASDAQ:USAP) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Universal Stainless & Alloy Products had a return on equity of 3.39% and a net margin of 3.03%. The business had revenue of $71.00 million for the quarter, compared to the consensus estimate of $67.36 million. Sell-side analysts expect that Universal Stainless & Alloy Products will post 1.03 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in shares of Universal Stainless & Alloy Products by 10.5% during the second quarter. Russell Investments Group Ltd. now owns 488,059 shares of the basic materials company’s stock worth $7,805,000 after acquiring an additional 46,469 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Universal Stainless & Alloy Products by 15.5% during the second quarter. Vanguard Group Inc. now owns 454,766 shares of the basic materials company’s stock worth $7,276,000 after acquiring an additional 61,163 shares during the period. Minerva Advisors LLC boosted its holdings in shares of Universal Stainless & Alloy Products by 16.1% during the second quarter. Minerva Advisors LLC now owns 448,489 shares of the basic materials company’s stock worth $7,158,000 after acquiring an additional 62,315 shares during the period. Wittenberg Investment Management Inc. boosted its holdings in shares of Universal Stainless & Alloy Products by 47.5% during the second quarter. Wittenberg Investment Management Inc. now owns 67,932 shares of the basic materials company’s stock worth $1,087,000 after acquiring an additional 21,870 shares during the period. Finally, Balter Liquid Alternatives LLC bought a new stake in shares of Universal Stainless & Alloy Products during the second quarter worth approximately $794,000. Institutional investors own 80.32% of the company’s stock.

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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