Universal Stainless & Alloy Products Stock Rating Lowered by Zacks (USAP)
Universal Stainless & Alloy Products (NASDAQ:USAP) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Thursday, American Banking and Market News reports. They currently have a $30.90 price objective on the stock. Zacks‘ price target would indicate a potential downside of 8.53% from the stock’s previous close.
Shares of Universal Stainless & Alloy Products (NASDAQ:USAP) traded up 0.49% on Thursday, hitting $32.68. The stock had a trading volume of 8,744 shares. Universal Stainless & Alloy Products has a 52-week low of $19.28 and a 52-week high of $37.69. The stock has a 50-day moving average of $33.80 and a 200-day moving average of $32.10. The company’s market cap is $227.9 million.
Universal Stainless & Alloy Products (NASDAQ:USAP) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.27) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.12) by $0.15. The company had revenue of $40.30 million for the quarter, compared to the consensus estimate of $45.60 million. On average, analysts predict that Universal Stainless & Alloy Products will post $0.73 earnings per share for the current fiscal year.
Separately, analysts at Topeka Capital Markets downgraded shares of Universal Stainless & Alloy Products from a “buy” rating to a “hold” rating in a research note on Friday, December 13th. They now have a $35.00 price target on the stock.
Universal Stainless & Alloy Products, Inc manufactures and markets semi-finished and finished specialty steel products, including stainless steel, tool steel and certain other alloyed steels.
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