Cowen began coverage on shares of Universal Stainless & Alloy Products (NASDAQ:USAP) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $33.00 price target on the basic materials company’s stock.

Other research analysts also recently issued research reports about the company. BidaskClub raised Universal Stainless & Alloy Products from a hold rating to a buy rating in a report on Sunday, July 29th. Zacks Investment Research downgraded Universal Stainless & Alloy Products from a buy rating to a hold rating in a report on Saturday, June 30th. Finally, ValuEngine downgraded Universal Stainless & Alloy Products from a buy rating to a hold rating in a report on Tuesday, June 12th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $31.50.

USAP stock opened at $27.34 on Tuesday. Universal Stainless & Alloy Products has a fifty-two week low of $17.30 and a fifty-two week high of $31.20. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 3.33. The stock has a market capitalization of $244.95 million, a price-to-earnings ratio of 38.10 and a beta of 1.22.

Universal Stainless & Alloy Products (NASDAQ:USAP) last posted its earnings results on Wednesday, July 25th. The basic materials company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. Universal Stainless & Alloy Products had a return on equity of 2.92% and a net margin of 6.43%. The company had revenue of $66.07 million for the quarter. equities analysts predict that Universal Stainless & Alloy Products will post 1.55 earnings per share for the current year.

In other Universal Stainless & Alloy Products news, Director M. David Kornblatt sold 2,500 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $29.44, for a total value of $73,600.00. Following the transaction, the director now owns 23,655 shares of the company’s stock, valued at $696,403.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 10.30% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its holdings in Universal Stainless & Alloy Products by 195.0% in the fourth quarter. Wells Fargo & Company MN now owns 6,666 shares of the basic materials company’s stock valued at $143,000 after acquiring an additional 4,406 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in Universal Stainless & Alloy Products in the first quarter worth about $150,000. Element Capital Management LLC purchased a new stake in Universal Stainless & Alloy Products in the first quarter worth about $213,000. Thomson Horstmann & Bryant Inc. increased its position in Universal Stainless & Alloy Products by 4.4% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 187,323 shares of the basic materials company’s stock worth $5,151,000 after buying an additional 7,908 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new stake in Universal Stainless & Alloy Products in the second quarter worth about $202,000. 77.10% of the stock is currently 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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