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

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Zacks Investment Research cut shares of Universal Stainless & Alloy Products (NASDAQ:USAP) from a hold rating to a sell rating in a research report released on Saturday, Zacks.com reports.

According to Zacks, “UNIVERSAL STAINLESS & ALLOY is a mini-mill that manufactures and markets semi-finished specialty steels, including stainless steel, tool steels and other alloy steels. It also provides conversion services on materials supplied by customers that lack certain of the Company’s production facilities or that are subject to their own capacity constraints. “

Separately, ValuEngine cut Yirendai from a sell rating to a strong sell rating in a research note on Wednesday, June 26th.

Shares of NASDAQ USAP opened at $15.51 on Friday. The company has a quick ratio of 0.81, a current ratio of 3.73 and a debt-to-equity ratio of 0.26. The stock has a market cap of $136.06 million, a PE ratio of 14.23 and a beta of 1.57. Universal Stainless & Alloy Products has a 1-year low of $12.53 and a 1-year high of $30.91. The stock’s fifty day moving average is $14.26.

Universal Stainless & Alloy Products (NASDAQ:USAP) last issued its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.10). The company had revenue of $60.27 million for the quarter, compared to analysts’ expectations of $65.41 million. Universal Stainless & Alloy Products had a return on equity of 3.93% and a net margin of 3.87%. Analysts predict that Universal Stainless & Alloy Products will post 1.2 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA lifted its stake in shares of Universal Stainless & Alloy Products by 322.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,776 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 1,356 shares during the last quarter. Rhumbline Advisers acquired a new position in Universal Stainless & Alloy Products during the 4th quarter valued at about $186,000. Municipal Employees Retirement System of Michigan acquired a new position in Universal Stainless & Alloy Products during the 4th quarter valued at about $229,000. Assenagon Asset Management S.A. acquired a new position in Universal Stainless & Alloy Products during the 1st quarter valued at about $270,000. Finally, Wedge Capital Management L L P NC increased its position in Universal Stainless & Alloy Products by 26.8% during the 1st quarter. Wedge Capital Management L L P NC now owns 19,542 shares of the basic materials company’s stock valued at $324,000 after buying an additional 4,133 shares in the last quarter. Hedge funds and other institutional investors own 86.35% 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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