Universal Stainless & Alloy Products (USAP) Lowered to Hold at ValuEngine

Universal Stainless & Alloy Products (NASDAQ:USAP) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday, June 12th.

Separately, Zacks Investment Research cut shares of Universal Stainless & Alloy Products from a “strong-buy” rating to a “hold” rating in a research note on Saturday, March 24th.

Shares of USAP opened at $23.98 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 3.97 and a debt-to-equity ratio of 0.48. Universal Stainless & Alloy Products has a 52-week low of $17.30 and a 52-week high of $31.20. The firm has a market capitalization of $178.73 million, a P/E ratio of 52.34 and a beta of 0.97.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its earnings results on Wednesday, April 25th. The basic materials company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.09. Universal Stainless & Alloy Products had a net margin of 5.46% and a return on equity of 1.88%. The business had revenue of $63.74 million during the quarter. sell-side analysts anticipate that Universal Stainless & Alloy Products will post 1.28 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in USAP. Wells Fargo & Company MN lifted its stake in Universal Stainless & Alloy Products by 195.0% during the fourth quarter. Wells Fargo & Company MN now owns 6,666 shares of the basic materials company’s stock worth $143,000 after purchasing an additional 4,406 shares during the period. O Shaughnessy Asset Management LLC bought a new position in Universal Stainless & Alloy Products during the first quarter worth about $150,000. Element Capital Management LLC bought a new position in Universal Stainless & Alloy Products during the first quarter worth about $213,000. Tibra Equities Europe Ltd bought a new position in Universal Stainless & Alloy Products during the first quarter worth about $421,000. Finally, Segall Bryant & Hamill LLC bought a new position in Universal Stainless & Alloy Products during the first quarter worth about $721,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

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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