Zacks: Brokerages Set $33.00 Target Price for Universal Stainless & Alloy Products (USAP)

Shares of Universal Stainless & Alloy Products (NASDAQ:USAP) have been assigned a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Universal Stainless & Alloy Products’ rating score has improved by 33.3% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a 12-month consensus price target of $33.00 for the company and are expecting that the company will post $0.52 earnings per share for the current quarter, according to Zacks. Zacks has also given Universal Stainless & Alloy Products an industry rank of 57 out of 255 based on the ratings given to related companies.

A number of research firms recently weighed in on USAP. BidaskClub raised shares of Universal Stainless & Alloy Products from a “hold” rating to a “buy” rating in a research report on Sunday, July 29th. Zacks Investment Research raised shares of Universal Stainless & Alloy Products from a “hold” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research report on Wednesday, July 25th. Cowen began coverage on shares of Universal Stainless & Alloy Products in a research report on Tuesday, August 14th. They issued an “outperform” rating and a $33.00 target price for the company. Finally, ValuEngine downgraded shares of Universal Stainless & Alloy Products from a “buy” rating to a “hold” rating in a research report on Friday, September 28th.

Universal Stainless & Alloy Products stock traded up $0.06 during mid-day trading on Friday, reaching $24.39. The company’s stock had a trading volume of 34,900 shares, compared to its average volume of 67,088. The company has a market cap of $221.66 million, a P/E ratio of 34.47 and a beta of 1.27. Universal Stainless & Alloy Products has a 12 month low of $18.53 and a 12 month high of $31.20. The company has a current ratio of 3.33, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its earnings results on Wednesday, July 25th. The basic materials company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. The business had revenue of $66.07 million during the quarter. Universal Stainless & Alloy Products had a net margin of 6.43% and a return on equity of 2.92%. On average, equities research analysts forecast that Universal Stainless & Alloy Products will post 1.65 EPS for the current year.

In other news, Director M. David Kornblatt sold 2,500 shares of Universal Stainless & Alloy Products stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $29.44, for a total value of $73,600.00. Following the completion of the transaction, the director now owns 23,655 shares of the company’s stock, valued at approximately $696,403.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher M. Zimmer sold 5,000 shares of Universal Stainless & Alloy Products stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $27.71, for a total transaction of $138,550.00. Following the completion of the transaction, the vice president now directly owns 23,574 shares of the company’s stock, valued at approximately $653,235.54. The disclosure for this sale can be found here. In the last three months, insiders sold 12,500 shares of company stock valued at $356,700. Insiders own 10.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in USAP. Dimensional Fund Advisors LP grew its position in shares of Universal Stainless & Alloy Products by 6.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 601,356 shares of the basic materials company’s stock valued at $16,537,000 after acquiring an additional 37,227 shares during the period. Element Capital Management LLC bought a new position in shares of Universal Stainless & Alloy Products in the 1st quarter valued at about $213,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Universal Stainless & Alloy Products during the 1st quarter worth about $721,000. Millennium Management LLC acquired a new stake in shares of Universal Stainless & Alloy Products during the 1st quarter worth about $2,022,000. Finally, Penn Capital Management Co. Inc. acquired a new stake in shares of Universal Stainless & Alloy Products during the 2nd quarter worth about $676,000. 90.85% of the stock is owned by institutional investors.

Universal Stainless & Alloy Products Company Profile

Universal Stainless & Alloy Products, Inc, together with its subsidiaries, manufactures and markets semi-finished and finished specialty steel products in the United States and internationally. The company's products include stainless steel, nickel alloys, tool steel, and various other alloyed steels.

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