BidaskClub lowered shares of Olympic Steel (NASDAQ:ZEUS) from a buy rating to a hold rating in a report released on Wednesday morning.

ZEUS has been the subject of several other research reports. KeyCorp reiterated a hold rating on shares of Olympic Steel in a research note on Sunday, October 22nd. Zacks Investment Research upgraded shares of Olympic Steel from a hold rating to a strong-buy rating and set a $22.00 price objective for the company in a research note on Tuesday, November 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $20.50.

Shares of Olympic Steel (NASDAQ:ZEUS) opened at $22.35 on Wednesday. The company has a quick ratio of 1.54, a current ratio of 4.23 and a debt-to-equity ratio of 0.82. Olympic Steel has a 52 week low of $15.83 and a 52 week high of $27.16. The company has a market cap of $259.04, a PE ratio of 20.14, a P/E/G ratio of 1.62 and a beta of 1.90.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.05. Olympic Steel had a net margin of 0.99% and a return on equity of 4.32%. The firm had revenue of $331.44 million during the quarter, compared to analysts’ expectations of $323.05 million. During the same quarter last year, the business earned ($0.16) earnings per share. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. research analysts forecast that Olympic Steel will post 1.27 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its position in Olympic Steel by 0.3% during the second quarter. PNC Financial Services Group Inc. now owns 12,676 shares of the basic materials company’s stock worth $246,000 after acquiring an additional 39 shares during the last quarter. Rhumbline Advisers raised its position in Olympic Steel by 0.8% during the second quarter. Rhumbline Advisers now owns 18,007 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 135 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Olympic Steel by 0.4% during the second quarter. Parametric Portfolio Associates LLC now owns 47,363 shares of the basic materials company’s stock worth $923,000 after acquiring an additional 196 shares during the last quarter. Citigroup Inc. raised its position in Olympic Steel by 4.0% during the second quarter. Citigroup Inc. now owns 12,888 shares of the basic materials company’s stock worth $251,000 after acquiring an additional 490 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Olympic Steel by 12.6% during 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 during the last quarter. Institutional investors own 68.49% of the company’s stock.

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Olympic Steel Company Profile

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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