Universal Stainless & Alloy Products (USAP) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Universal Stainless & Alloy Products (NASDAQ:USAP) from a strong sell rating to a hold rating in a report issued on Wednesday.

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 research firms have also commented on USAP. ValuEngine upgraded shares of Universal Stainless & Alloy Products from a sell rating to a hold rating in a report on Wednesday, January 30th. Cowen reaffirmed a buy rating and issued a $20.00 price objective on shares of Universal Stainless & Alloy Products in a research report on Wednesday, January 23rd.

NASDAQ USAP opened at $16.81 on Wednesday. Universal Stainless & Alloy Products has a one year low of $14.11 and a one year high of $30.93. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.68 and a current ratio of 2.96. The company has a market capitalization of $146.58 million, a P/E ratio of 13.78 and a beta of 1.48.

Universal Stainless & Alloy Products (NASDAQ:USAP) last posted its quarterly earnings results on Wednesday, January 23rd. The basic materials company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.09). Universal Stainless & Alloy Products had a net margin of 4.17% and a return on equity of 4.53%. The business had revenue of $57.06 million during the quarter, compared to analysts’ expectations of $66.67 million. Equities research analysts predict that Universal Stainless & Alloy Products will post 1.41 EPS for the current year.

In other news, Chairman Dennis M. Oates acquired 3,822 shares of the stock in a transaction on Monday, February 11th. The stock was bought at an average price of $15.70 per share, with a total value of $60,005.40. Following the completion of the transaction, the chairman now directly owns 100,536 shares of the company’s stock, valued at $1,578,415.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 4,968 shares of company stock valued at $77,998 in the last ninety days. 10.30% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in Universal Stainless & Alloy Products by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 729,467 shares of the basic materials company’s stock valued at $11,825,000 after acquiring an additional 5,312 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Universal Stainless & Alloy Products by 20.3% during the fourth quarter. BlackRock Inc. now owns 578,544 shares of the basic materials company’s stock valued at $9,378,000 after acquiring an additional 97,483 shares during the period. Royce & Associates LP lifted its stake in shares of Universal Stainless & Alloy Products by 18.4% during the fourth quarter. Royce & Associates LP now owns 487,949 shares of the basic materials company’s stock valued at $7,910,000 after acquiring an additional 75,956 shares during the period. Vanguard Group Inc. lifted its stake in shares of Universal Stainless & Alloy Products by 7.1% during the third quarter. Vanguard Group Inc. now owns 404,352 shares of the basic materials company’s stock valued at $10,315,000 after acquiring an additional 26,957 shares during the period. Finally, Vanguard Group Inc lifted its stake in shares of Universal Stainless & Alloy Products by 7.1% during the third quarter. Vanguard Group Inc now owns 404,352 shares of the basic materials company’s stock valued at $10,315,000 after acquiring an additional 26,957 shares during the period. 88.01% 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.

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