Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP) – Stock analysts at KeyCorp reduced their FY2018 earnings per share (EPS) estimates for Universal Stainless & Alloy Products in a report issued on Monday. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings of $0.80 per share for the year, down from their prior forecast of $0.81.

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

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Shares of Universal Stainless & Alloy Products (NASDAQ:USAP) traded up 1.34% during mid-day trading on Thursday, reaching $18.18. 7,938 shares of the company traded hands. The firm has a 50-day moving average price of $18.88 and a 200 day moving average price of $17.43. Universal Stainless & Alloy Products has a 52 week low of $9.13 and a 52 week high of $20.64. The firm’s market capitalization is $131.41 million.

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

A number of hedge funds have recently bought and sold shares of the stock. Shufro Rose & Co. LLC purchased a new stake in Universal Stainless & Alloy Products during the second quarter valued at $277,000. Royce & Associates LP raised its stake in Universal Stainless & Alloy Products by 108.9% in the first 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 period. Acadian Asset Management LLC raised its stake in Universal Stainless & Alloy Products by 14.2% in the first quarter. Acadian Asset Management LLC now owns 31,513 shares of the basic materials company’s stock valued at $534,000 after buying an additional 3,915 shares during the period. EAM Investors LLC purchased a new stake in Universal Stainless & Alloy Products during the second quarter valued at $562,000. Finally, Renaissance Technologies LLC raised its stake in Universal Stainless & Alloy Products by 3.9% in the first quarter. Renaissance Technologies LLC now owns 50,700 shares of the basic materials company’s stock valued at $862,000 after buying an additional 1,900 shares during the period. 83.48% of the stock is currently owned by institutional investors.

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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