Olympic Steel Inc. (ZEUS) Trading Down 7.2%
Olympic Steel Inc. (NASDAQ:ZEUS) shares fell 7.2% on Tuesday . The company traded as low as $28.75 and last traded at $28.87, with a volume of 59,594 shares changing hands. The stock had previously closed at $31.12.
ZEUS has been the subject of a number of recent analyst reports. Jefferies Group restated a “hold” rating and set a $25.00 price target (up from $20.00) on shares of Olympic Steel in a research report on Friday, June 10th. Zacks Investment Research upgraded shares of Olympic Steel from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Saturday, May 7th. Finally, TheStreet raised shares of Olympic Steel from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th.
The stock’s 50-day moving average price is $26.60 and its 200-day moving average price is $18.20. The stock’s market cap is $308.06 million.
Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings data on Friday, April 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.08. During the same period last year, the company earned $0.10 earnings per share. The firm earned $258.30 million during the quarter, compared to analysts’ expectations of $251.82 million. The business’s revenue for the quarter was down 25.3% on a year-over-year basis. On average, equities 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. Heartland Advisors Inc. boosted its position in Olympic Steel Inc. (NASDAQ:ZEUS) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 400,000 shares of the company’s stock after buying an additional 40,401 shares during the period. Heartland Advisors Inc. owned approximately 3.64% of Olympic Steel worth $4,632,000 as of its most recent SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.