Universal Stainless & Alloy Products (NASDAQ:USAP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $19.00 price objective on the basic materials company’s stock. Zacks Investment Research’s target price points to a potential upside of 12.36% from the stock’s previous close.

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. “

Several other analysts have also recently issued reports on the company. CL King upgraded Universal Stainless & Alloy Products from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 25th. Rosenblatt Securities initiated coverage on Universal Stainless & Alloy Products in a research note on Wednesday, January 11th. They issued a “buy” rating and a $19.00 price objective on the stock.

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Universal Stainless & Alloy Products (NASDAQ:USAP) traded up 0.53% during trading on Wednesday, reaching $17.00. The company’s stock had a trading volume of 4,984 shares. The firm’s market capitalization is $122.66 million. The stock has a 50-day moving average of $15.22 and a 200 day moving average of $13.77. Universal Stainless & Alloy Products has a one year low of $9.13 and a one year high of $17.83.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its quarterly earnings results on Wednesday, January 25th. The basic materials company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.15. Universal Stainless & Alloy Products had a negative return on equity of 2.65% and a negative net margin of 3.46%. The firm had revenue of $34.20 million for the quarter, compared to analyst estimates of $36.56 million. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Universal Stainless & Alloy Products will post $0.06 EPS for the current fiscal year.

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Institutional investors have recently bought and sold shares of the stock. Eidelman Virant Capital raised its position in Universal Stainless & Alloy Products by 196.5% in the fourth quarter. Eidelman Virant Capital now owns 111,200 shares of the basic materials company’s stock valued at $1,033,000 after buying an additional 73,700 shares during the period. Fort Pitt Capital Group LLC acquired a new position in Universal Stainless & Alloy Products during the fourth quarter valued at approximately $685,000. Thomson Horstmann & Bryant Inc. acquired a new position in Universal Stainless & Alloy Products during the first quarter valued at approximately $1,293,000. Ameriprise Financial Inc. raised its position in Universal Stainless & Alloy Products by 8.7% in the fourth quarter. Ameriprise Financial Inc. now owns 400,365 shares of the basic materials company’s stock valued at $3,720,000 after buying an additional 32,212 shares during the period. Finally, Royce & Associates LP raised its position in Universal Stainless & Alloy Products by 14.5% in the second quarter. Royce & Associates LP now owns 14,220 shares of the basic materials company’s stock valued at $155,000 after buying an additional 1,800 shares during the period. 81.03% of the stock is currently owned by hedge funds and other institutional investors.

About Universal Stainless & Alloy Products

Universal Stainless & Alloy Products, Inc manufactures and markets semi-finished and finished specialty steel products, including stainless steel, nickel alloys, tool steel and certain other alloyed steels. The Company’s manufacturing process involves melting, remelting, heat treating, hot and cold rolling, forging, machining and cold drawing of semi-finished and finished specialty steels.

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