Universal Stainless & Alloy Products (NASDAQ:USAP) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Friday.

Several other research firms have also weighed in on USAP. Zacks Investment Research upgraded shares of Universal Stainless & Alloy Products from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research note on Wednesday, July 25th. ValuEngine upgraded shares of Universal Stainless & Alloy Products from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Finally, Cowen initiated coverage on shares of Universal Stainless & Alloy Products in a research note on Tuesday, August 14th. They issued an “outperform” rating and a $33.00 price objective for the company. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Universal Stainless & Alloy Products presently has an average rating of “Buy” and an average target price of $31.50.

NASDAQ:USAP opened at $28.76 on Friday. The firm has a market capitalization of $252.77 million, a PE ratio of 39.31 and a beta of 1.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.33 and a quick ratio of 0.81. Universal Stainless & Alloy Products has a twelve month low of $18.53 and a twelve month high of $31.20.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its quarterly earnings data on Wednesday, July 25th. The basic materials company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09. The company had revenue of $66.07 million during the quarter. Universal Stainless & Alloy Products had a net margin of 6.43% and a return on equity of 2.92%. analysts forecast that Universal Stainless & Alloy Products will post 1.65 EPS for the current fiscal year.

In other news, Director M. David Kornblatt sold 2,500 shares of Universal Stainless & Alloy Products stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $29.44, for a total value of $73,600.00. Following the completion of the sale, the director now owns 23,655 shares in the company, valued at approximately $696,403.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in Universal Stainless & Alloy Products by 72.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,062 shares of the basic materials company’s stock valued at $877,000 after purchasing an additional 15,520 shares in the last quarter. Bank of America Corp DE increased its stake in Universal Stainless & Alloy Products by 1,218.4% during the 2nd quarter. Bank of America Corp DE now owns 22,782 shares of the basic materials company’s stock valued at $539,000 after purchasing an additional 21,054 shares in the last quarter. Intrinsic Edge Capital Management LLC increased its stake in Universal Stainless & Alloy Products by 19.2% during the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 155,195 shares of the basic materials company’s stock valued at $3,673,000 after purchasing an additional 25,000 shares in the last quarter. Van ECK Associates Corp bought a new stake in Universal Stainless & Alloy Products during the 2nd quarter valued at $202,000. Finally, Renaissance Technologies LLC increased its stake in Universal Stainless & Alloy Products by 23.3% during the 2nd quarter. Renaissance Technologies LLC now owns 215,300 shares of the basic materials company’s stock valued at $5,096,000 after purchasing an additional 40,700 shares in the last quarter. Institutional investors and hedge funds own 91.17% of the company’s stock.

Universal Stainless & Alloy Products Company Profile

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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