Zacks Investment Research lowered shares of Universal Stainless & Alloy Products (NASDAQ:USAP) from a hold rating to a sell rating in a report issued on Saturday morning.

According to Zacks, “UNIVERSAL STAINLESS & ALLOY is a mini-mill that manufactures and markets semi-finished specialty steels, including stainless steel, tool steels and other alloy steels. It also provides conversion services on materials supplied by customers that lack certain of the Company’s production facilities or that are subject to their own capacity constraints. “

A number of other research firms also recently issued reports on USAP. Cowen set a $30.00 price target on Universal Stainless & Alloy Products and gave the stock a buy rating in a research note on Wednesday. ValuEngine upgraded Universal Stainless & Alloy Products from a hold rating to a buy rating in a research note on Thursday, July 19th. Finally, BidaskClub downgraded Universal Stainless & Alloy Products from a buy rating to a hold rating in a research note on Friday, September 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $30.00.

Shares of USAP stock traded down $1.61 on Friday, reaching $18.71. The stock had a trading volume of 85,159 shares, compared to its average volume of 60,643. The company has a market cap of $163.24 million, a P/E ratio of 16.13 and a beta of 1.26. Universal Stainless & Alloy Products has a 1 year low of $18.53 and a 1 year high of $31.20. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.07 and a quick ratio of 0.81.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.04). The firm had revenue of $69.06 million during the quarter, compared to analysts’ expectations of $70.02 million. Universal Stainless & Alloy Products had a return on equity of 4.50% and a net margin of 7.20%. As a group, analysts expect that Universal Stainless & Alloy Products will post 1.48 earnings per share for the current year.

In related news, VP Christopher M. Zimmer sold 5,000 shares of Universal Stainless & Alloy Products stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $27.71, for a total transaction of $138,550.00. Following the transaction, the vice president now directly owns 23,574 shares in the company, valued at $653,235.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the director now owns 23,655 shares in the company, valued at $696,403.20. The disclosure for this sale can be found here. Insiders have sold 12,500 shares of company stock worth $356,700 over the last quarter. 11.60% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in Universal Stainless & Alloy Products by 23.3% during the second 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. Russell Investments Group Ltd. lifted its position in Universal Stainless & Alloy Products by 39.2% during the second quarter. Russell Investments Group Ltd. now owns 217,297 shares of the basic materials company’s stock valued at $5,144,000 after purchasing an additional 61,240 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Universal Stainless & Alloy Products by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 613,655 shares of the basic materials company’s stock valued at $14,525,000 after purchasing an additional 12,299 shares in the last quarter. Fort Pitt Capital Group LLC lifted its position in Universal Stainless & Alloy Products by 95.2% during the second quarter. Fort Pitt Capital Group LLC now owns 138,202 shares of the basic materials company’s stock valued at $3,271,000 after purchasing an additional 67,400 shares in the last quarter. Finally, Penn Capital Management Co. Inc. purchased a new position in Universal Stainless & Alloy Products during the second quarter valued at $676,000. Institutional investors own 90.85% 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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