Zacks: Universal Stainless & Alloy Products (USAP) Receives Consensus Recommendation of “Strong Buy” from Analysts

Shares of Universal Stainless & Alloy Products (NASDAQ:USAP) have been given a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation. Universal Stainless & Alloy Products’ rating score has improved by 50% from three months ago as a result of various analysts’ upgrades and downgrades.

Brokerages have set a 12 month consensus price objective of $21.50 for the company and are predicting that the company will post $0.24 EPS for the current quarter, according to Zacks. Zacks has also assigned Universal Stainless & Alloy Products an industry rank of 181 out of 255 based on the ratings given to related companies.

Several equities analysts have issued reports on the company. Zacks Investment Research upgraded Universal Stainless & Alloy Products from a “sell” rating to a “hold” rating in a research report on Wednesday, December 26th. ValuEngine cut Universal Stainless & Alloy Products from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. Finally, Cowen reiterated a “buy” rating and set a $20.00 target price on shares of Universal Stainless & Alloy Products in a research report on Wednesday, January 23rd.

Shares of USAP stock opened at $17.16 on Thursday. The stock has a market capitalization of $150.44 million, a P/E ratio of 14.07 and a beta of 1.48. Universal Stainless & Alloy Products has a 52-week low of $14.11 and a 52-week 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.

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

In other Universal Stainless & Alloy Products news, Chairman Dennis M. Oates bought 3,822 shares of the company’s stock in a transaction on Monday, February 11th. The shares were bought at an average price of $15.70 per share, for a total transaction of $60,005.40. Following the transaction, the chairman now owns 100,536 shares of the company’s stock, valued at approximately $1,578,415.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired a total of 4,968 shares of company stock worth $77,998 in the last quarter. 10.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in shares of Universal Stainless & Alloy Products by 1,218.4% during the 2nd quarter. Bank of America Corp DE now owns 22,782 shares of the basic materials company’s stock worth $539,000 after acquiring an additional 21,054 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Universal Stainless & Alloy Products by 7.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 39,767 shares of the basic materials company’s stock worth $1,014,000 after acquiring an additional 2,705 shares in the last quarter. 22NW LP boosted its stake in shares of Universal Stainless & Alloy Products by 1.2% during the 4th quarter. 22NW LP now owns 146,985 shares of the basic materials company’s stock worth $2,383,000 after acquiring an additional 1,750 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Universal Stainless & Alloy Products by 49.6% during the 3rd quarter. Wells Fargo & Company MN now owns 10,935 shares of the basic materials company’s stock worth $279,000 after acquiring an additional 3,625 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Universal Stainless & Alloy Products during the 3rd quarter worth approximately $885,000. Institutional investors own 88.97% 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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