Olympic Steel (ZEUS) Stock Rating Lowered by Zacks Investment Research

Olympic Steel (NASDAQ:ZEUS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Olympic Steel, Inc. is a leading U.S. metals service center focused on the direct sale and distribution of large volumes of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel and aluminum products. The Company’s CTI subsidiary is a leading distributor of steel tubing, bar, pipe, valves and fittings, and fabricates pressure parts for the electric utility industry. “

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ZEUS has been the subject of a number of other research reports. BidaskClub raised shares of Olympic Steel from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. KeyCorp reaffirmed a “hold” rating on shares of Olympic Steel in a research note on Friday, November 24th.

Olympic Steel (NASDAQ ZEUS) opened at $22.36 on Thursday. Olympic Steel has a 52 week low of $15.83 and a 52 week high of $25.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.78 and a quick ratio of 1.30. The company has a market cap of $244.83, a P/E ratio of 13.39, a P/E/G ratio of 1.49 and a beta of 1.86.

Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings data on Friday, March 2nd. The basic materials company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.15). Olympic Steel had a return on equity of 4.89% and a net margin of 1.42%. The firm had revenue of $308.17 million during the quarter, compared to analyst estimates of $313.00 million. During the same period in the prior year, the business posted ($0.23) EPS. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. analysts forecast that Olympic Steel will post 1.99 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Two Sigma Investments LP boosted its stake in Olympic Steel by 12.4% in the 4th quarter. Two Sigma Investments LP now owns 33,307 shares of the basic materials company’s stock worth $716,000 after purchasing an additional 3,676 shares during the period. Guggenheim Capital LLC lifted its position in Olympic Steel by 38.7% in the 4th quarter. Guggenheim Capital LLC now owns 148,243 shares of the basic materials company’s stock worth $3,185,000 after buying an additional 41,326 shares in the last quarter. Deutsche Bank AG lifted its position in Olympic Steel by 7.5% in the 4th quarter. Deutsche Bank AG now owns 32,295 shares of the basic materials company’s stock worth $693,000 after buying an additional 2,264 shares in the last quarter. Brandywine Global Investment Management LLC lifted its position in Olympic Steel by 9.5% in the 4th quarter. Brandywine Global Investment Management LLC now owns 48,500 shares of the basic materials company’s stock worth $1,043,000 after buying an additional 4,200 shares in the last quarter. Finally, Thrivent Financial For Lutherans purchased a new stake in Olympic Steel in the 4th quarter worth approximately $610,000. 65.55% of the stock is owned by hedge funds and other institutional investors.

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About Olympic Steel

Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.

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