Olympic Steel Inc. (ZEUS) Hits New 52-Week 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 changing hands. The stock had previously closed at $30.26.
ZEUS has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Olympic Steel from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Saturday, May 7th. TheStreet upgraded shares of Olympic Steel from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Finally, Jefferies Group restated a “hold” rating and issued a $25.00 target price (up previously from $20.00) on shares of Olympic Steel in a research note on Friday, June 10th.
The firm’s market cap is $308.06 million. The firm has a 50 day moving average of $26.65 and a 200-day moving average of $18.27.
Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Friday, April 29th. The company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.08. During the same quarter last year, the company earned $0.10 EPS. The business had revenue of $258.30 million for the quarter, compared to analyst estimates of $251.82 million. The business’s revenue for the quarter was down 25.3% compared to the same quarter last year. Equities research analysts expect that Olympic Steel Inc. will post $0.92 EPS for the current year.
A hedge fund recently raised its stake in Olympic Steel stock. Morgan Stanley raised its stake in Olympic Steel Inc. (NASDAQ:ZEUS) by 572.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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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