Olympic Steel (ZEUS) Upgraded at BidaskClub

Olympic Steel (NASDAQ:ZEUS) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Other research analysts have also recently issued research reports about the company. KeyCorp restated a “hold” rating on shares of Olympic Steel in a research note on Friday, November 24th. Zacks Investment Research cut Olympic Steel from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $20.50.

Shares of Olympic Steel (ZEUS) traded up $0.07 on Tuesday, hitting $23.59. The company’s stock had a trading volume of 127,777 shares, compared to its average volume of 102,050. The firm has a market capitalization of $258.05, a PE ratio of 21.25, a PEG ratio of 1.61 and a beta of 1.79. Olympic Steel has a 12 month low of $15.83 and a 12 month high of $27.16. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.54 and a current ratio of 4.23.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05. The company had revenue of $331.44 million for the quarter, compared to analysts’ expectations of $323.05 million. Olympic Steel had a return on equity of 4.32% and a net margin of 0.99%. The firm’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. analysts predict that Olympic Steel will post 1.27 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. KBC Group NV acquired a new position in shares of Olympic Steel in the second quarter worth about $142,000. Walleye Trading LLC lifted its stake in shares of Olympic Steel by 70.6% in the second quarter. Walleye Trading LLC now owns 5,800 shares of the basic materials company’s stock worth $158,000 after acquiring an additional 2,400 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in shares of Olympic Steel in the second quarter worth about $187,000. The Manufacturers Life Insurance Company lifted its stake in shares of Olympic Steel by 12.6% in the second quarter. The Manufacturers Life Insurance Company now owns 8,349 shares of the basic materials company’s stock worth $163,000 after acquiring an additional 934 shares in the last quarter. Finally, Acrospire Investment Management LLC lifted its stake in shares of Olympic Steel by 352.4% in the second quarter. Acrospire Investment Management LLC now owns 8,473 shares of the basic materials company’s stock worth $231,000 after acquiring an additional 6,600 shares in the last quarter. Institutional investors and hedge funds own 67.91% of the company’s stock.

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About Olympic Steel

Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.

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