Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP) – Stock analysts at KeyCorp lowered their Q3 2017 earnings per share (EPS) estimates for Universal Stainless & Alloy Products in a research note issued to investors on Monday. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings of $0.02 per share for the quarter, down from their prior estimate of $0.18. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Universal Stainless & Alloy Products’ FY2017 earnings at $0.20 EPS.

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 target on the stock in a report on Thursday, July 27th.

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Universal Stainless & Alloy Products (NASDAQ:USAP) opened at 21.81 on Wednesday. Universal Stainless & Alloy Products has a 12-month low of $9.13 and a 12-month high of $23.04. The stock has a 50 day moving average of $20.47 and a 200 day moving average of $18.95. The firm’s market capitalization is $157.64 million.

Universal Stainless & Alloy Products (NASDAQ:USAP) last posted its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ 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. Universal Stainless & Alloy Products’s revenue for the quarter was up 28.3% compared to the same quarter last year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors increased its stake in 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 worth $131,000 after purchasing an additional 3,811 shares in the last quarter. Shufro Rose & Co. LLC bought a new stake in Universal Stainless & Alloy Products during the 2nd quarter worth approximately $277,000. EAM Investors LLC bought a new stake in Universal Stainless & Alloy Products during the 2nd quarter worth approximately $562,000. Royce & Associates LP increased its stake in 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 worth $505,000 after purchasing an additional 15,480 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in 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 worth $696,000 after purchasing an additional 4,193 shares in the last quarter. 81.09% of the stock is owned by institutional investors and hedge funds.

Universal Stainless & Alloy Products Company Profile

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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