Universal Stainless & Alloy Products (NASDAQ:USAP) Downgraded to “Sell” at ValuEngine

Universal Stainless & Alloy Products (NASDAQ:USAP) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, February 5th.

USAP has been the topic of a number of other reports. Cowen reissued a “buy” rating and set a $20.00 price target on shares of Universal Stainless & Alloy Products in a report on Wednesday, January 23rd. Zacks Investment Research downgraded shares of Universal Stainless & Alloy Products from a “buy” rating to a “hold” rating in a report on Thursday, October 18th.

Universal Stainless & Alloy Products stock traded up $0.26 during mid-day trading on Tuesday, reaching $18.64. 23,887 shares of the company traded hands, compared to its average volume of 39,058. The company has a current ratio of 2.96, a quick ratio of 1.13 and a debt-to-equity ratio of 0.18. Universal Stainless & Alloy Products has a fifty-two week low of $14.11 and a fifty-two week high of $31.20. The firm has a market capitalization of $160.61 million, a price-to-earnings ratio of 15.28 and a beta of 1.48.

Universal Stainless & Alloy Products (NASDAQ:USAP) last issued its quarterly earnings results on Wednesday, January 23rd. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.09). The company had revenue of $57.06 million for the quarter, compared to analyst estimates of $66.67 million. Universal Stainless & Alloy Products had a net margin of 4.17% and a return on equity of 4.53%. On average, sell-side analysts predict that Universal Stainless & Alloy Products will post 1.41 EPS for the current fiscal year.

In related news, Chairman Dennis M. Oates acquired 3,822 shares of the firm’s stock in a transaction on Monday, February 11th. The shares were acquired at an average cost of $15.70 per share, with a total value of $60,005.40. Following the completion of the acquisition, the chairman now directly owns 100,536 shares in the company, valued at approximately $1,578,415.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have acquired 4,968 shares of company stock worth $77,998. Insiders own 10.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of USAP. Fort Pitt Capital Group LLC increased its position in Universal Stainless & Alloy Products by 0.6% during the fourth quarter. Fort Pitt Capital Group LLC now owns 135,718 shares of the basic materials company’s stock worth $2,200,000 after purchasing an additional 816 shares during the last quarter. 22NW LP grew its position in Universal Stainless & Alloy Products by 1.2% in the fourth quarter. 22NW LP now owns 146,985 shares of the basic materials company’s stock valued at $2,383,000 after acquiring an additional 1,750 shares in the last quarter. Bank of New York Mellon Corp grew its position in Universal Stainless & Alloy Products by 7.3% in the third quarter. Bank of New York Mellon Corp now owns 39,767 shares of the basic materials company’s stock valued at $1,014,000 after acquiring an additional 2,705 shares in the last quarter. Wells Fargo & Company MN grew its position in Universal Stainless & Alloy Products by 49.6% in the third quarter. Wells Fargo & Company MN now owns 10,935 shares of the basic materials company’s stock valued at $279,000 after acquiring an additional 3,625 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Universal Stainless & Alloy Products by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 90,491 shares of the basic materials company’s stock valued at $1,466,000 after acquiring an additional 3,807 shares in the last quarter. Institutional investors and hedge funds own 93.35% of the company’s stock.

About Universal Stainless & Alloy Products

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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