Universal Stainless & Alloy Products (NASDAQ:USAP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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. “

Separately, KeyCorp reissued a “hold” rating on shares of Universal Stainless & Alloy Products in a research report on Thursday, November 16th.

Shares of Universal Stainless & Alloy Products (USAP) opened at $21.36 on Tuesday. The stock has a market capitalization of $155.41, a price-to-earnings ratio of -82.15 and a beta of 0.89. The company has a current ratio of 3.41, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40. Universal Stainless & Alloy Products has a 52-week low of $11.60 and a 52-week high of $23.04.

Universal Stainless & Alloy Products (NASDAQ:USAP) last announced its earnings results on Wednesday, October 25th. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The company had revenue of $50.90 million for the quarter, compared to analyst estimates of $51.19 million. Universal Stainless & Alloy Products had a negative return on equity of 0.53% and a negative net margin of 1.08%. Universal Stainless & Alloy Products’s revenue for the quarter was up 28.2% compared to the same quarter last year. research analysts anticipate that Universal Stainless & Alloy Products will post 0.2 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Nationwide Fund Advisors raised its position in Universal Stainless & Alloy Products by 154.8% during the third quarter. Nationwide Fund Advisors now owns 6,273 shares of the basic materials company’s stock valued at $131,000 after buying an additional 3,811 shares during the period. JPMorgan Chase & Co. raised its position in Universal Stainless & Alloy Products by 1,400.0% during the third quarter. JPMorgan Chase & Co. now owns 7,500 shares of the basic materials company’s stock valued at $155,000 after buying an additional 7,000 shares during the period. Macquarie Group Ltd. acquired a new position in Universal Stainless & Alloy Products during the third quarter valued at $172,000. Smith Moore & CO. acquired a new position in Universal Stainless & Alloy Products during the third quarter valued at $250,000. Finally, EAM Investors LLC acquired a new position in Universal Stainless & Alloy Products during the second quarter valued at $562,000. 85.56% of the stock is currently owned by hedge funds and other institutional investors.

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Universal Stainless & Alloy Products Company Profile

Universal Stainless & Alloy Products, Inc manufactures and markets semi-finished and finished specialty steel products, including stainless steel, nickel alloys, tool steel and certain other alloyed steels. The Company’s manufacturing process involves melting, remelting, heat treating, hot and cold rolling, forging, machining and cold drawing of semi-finished and finished specialty steels.

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