Olympic Steel Inc. (ZEUS) Hits New 12-Month High at $31.15
Olympic Steel Inc. (NASDAQ:ZEUS) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $31.15 and last traded at $30.82, with a volume of 55,253 shares traded. The stock had previously closed at $30.26.
A number of brokerages have recently issued reports on ZEUS. Jefferies Group reaffirmed a “hold” rating and set a $25.00 target price (up from $20.00) on shares of Olympic Steel in a research report on Friday, June 10th. Zacks Investment Research raised Olympic Steel from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Saturday, May 7th. Finally, TheStreet raised Olympic Steel from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th.
The firm’s 50-day moving average price is $26.38 and its 200 day moving average price is $17.95. The firm’s market cap is $339.73 million.
Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings results on Friday, April 29th. The company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.08. The business had revenue of $258.30 million for the quarter, compared to the consensus estimate of $251.82 million. During the same quarter last year, the company earned $0.10 earnings per share. The firm’s revenue was down 25.3% on a year-over-year basis. Analysts expect that Olympic Steel Inc. will post $0.92 EPS for the current fiscal year.
A hedge fund recently raised its stake in Olympic Steel stock. Morgan Stanley raised its position in Olympic Steel Inc. (NASDAQ:ZEUS) by 572.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,492 shares of the company’s stock after buying an additional 130,675 shares during the period. Morgan Stanley owned approximately 1.40% of Olympic Steel worth $1,778,000 as of its most recent filing with the SEC.
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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