Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP) – Stock analysts at KeyCorp dropped their Q4 2017 EPS estimates for shares of Universal Stainless & Alloy Products in a note issued to investors on Monday. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings of $0.12 per share for the quarter, down from their previous estimate of $0.16. KeyCorp currently has a “Hold” rating on the stock.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its earnings results on Wednesday, July 26th. The basic materials company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.11 by $0.06. Universal Stainless & Alloy Products had a negative net margin of 1.20% and a negative return on equity of 0.91%. The business had revenue of $52.60 million during the quarter, compared to analyst estimates of $50.26 million. The firm’s quarterly revenue was up 28.3% on a year-over-year basis.

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Separately, Zacks Investment Research raised shares of Universal Stainless & Alloy Products from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Thursday, July 27th.

Shares of Universal Stainless & Alloy Products (NASDAQ:USAP) opened at 22.25 on Tuesday. The company’s 50-day moving average is $20.43 and its 200 day moving average is $18.91. Universal Stainless & Alloy Products has a 1-year low of $9.13 and a 1-year high of $23.04. The firm’s market capitalization is $160.82 million.

Several large investors have recently made changes to their positions in USAP. Nationwide Fund Advisors grew its position in shares of Universal Stainless & Alloy Products by 154.8% during the 3rd quarter. Nationwide Fund Advisors now owns 6,273 shares of the basic materials company’s stock valued at $131,000 after buying an additional 3,811 shares during the last quarter. Shufro Rose & Co. LLC bought a new stake in shares of Universal Stainless & Alloy Products during the 2nd quarter valued at about $277,000. Royce & Associates LP grew its position in shares of Universal Stainless & Alloy Products by 108.9% during the 1st quarter. Royce & Associates LP now owns 29,700 shares of the basic materials company’s stock valued at $505,000 after buying an additional 15,480 shares during the last quarter. EAM Investors LLC bought a new stake in shares of Universal Stainless & Alloy Products during the 2nd quarter valued at about $562,000. Finally, Acadian Asset Management LLC grew its position in shares of Universal Stainless & Alloy Products by 13.3% during the 2nd quarter. Acadian Asset Management LLC now owns 35,706 shares of the basic materials company’s stock valued at $696,000 after buying an additional 4,193 shares during the last quarter. 81.09% of the stock is owned by institutional investors and hedge funds.

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.

Earnings History and Estimates for Universal Stainless & Alloy Products (NASDAQ:USAP)

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