Zacks: Universal Stainless & Alloy Products (USAP) Receives Average Rating of “Strong Buy” from Brokerages

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Shares of Universal Stainless & Alloy Products (NASDAQ:USAP) have received an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Analysts have set a 1 year consensus target price of $21.00 for the company and are anticipating that the company will post $0.30 EPS for the current quarter, according to Zacks. Zacks has also assigned Universal Stainless & Alloy Products an industry rank of 215 out of 256 based on the ratings given to related companies.

A number of analysts have weighed in on USAP shares. Cowen reaffirmed a “buy” rating and issued a $20.00 price target on shares of Universal Stainless & Alloy Products in a research report on Wednesday, January 23rd. Zacks Investment Research upgraded shares of Universal Stainless & Alloy Products from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective for the company in a research report on Thursday, March 28th. Finally, ValuEngine upgraded shares of Universal Stainless & Alloy Products from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th.

Shares of NASDAQ:USAP remained flat at $$14.04 on Monday. The company’s stock had a trading volume of 8,094 shares, compared to its average volume of 41,333. Universal Stainless & Alloy Products has a 12 month low of $13.37 and a 12 month high of $30.91. The firm has a market capitalization of $123.13 million, a PE ratio of 11.51 and a beta of 1.38. The company has a quick ratio of 0.81, a current ratio of 3.73 and a debt-to-equity ratio of 0.26.

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

Hedge funds have recently added to or reduced their stakes in the business. Fort Pitt Capital Group LLC lifted its position in Universal Stainless & Alloy Products by 0.6% during the fourth quarter. Fort Pitt Capital Group LLC now owns 135,718 shares of the basic materials company’s stock worth $2,200,000 after acquiring an additional 816 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake 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 valued at $29,000 after acquiring an additional 1,356 shares during the last quarter. Wells Fargo & Company MN increased its stake in Universal Stainless & Alloy Products by 11.8% in the first quarter. Wells Fargo & Company MN now owns 14,854 shares of the basic materials company’s stock valued at $246,000 after acquiring an additional 1,569 shares during the last quarter. Cadence Capital Management LLC increased its stake in Universal Stainless & Alloy Products by 1.8% in the first quarter. Cadence Capital Management LLC now owns 95,480 shares of the basic materials company’s stock valued at $1,582,000 after acquiring an additional 1,690 shares during the last quarter. Finally, 22NW LP increased its stake in Universal Stainless & Alloy Products by 1.2% in the fourth quarter. 22NW LP now owns 146,985 shares of the basic materials company’s stock valued at $2,383,000 after acquiring an additional 1,750 shares during the last quarter. Hedge funds and other institutional investors own 88.46% 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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