Research Analysts Issue Forecasts for Universal Stainless & Alloy Products’ Q2 2019 Earnings (USAP)

Universal Stainless & Alloy Products (NASDAQ:USAP) – Analysts at KeyCorp increased their Q2 2019 EPS estimates for shares of Universal Stainless & Alloy Products in a report issued on Tuesday, March 12th. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings of $0.41 per share for the quarter, up from their previous estimate of $0.40. KeyCorp also issued estimates for Universal Stainless & Alloy Products’ Q3 2019 earnings at $0.43 EPS.

Universal Stainless & Alloy Products (NASDAQ:USAP) last released its quarterly earnings data on Wednesday, January 23rd. The basic materials company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.09). The business had revenue of $57.06 million for the quarter, compared to analysts’ expectations of $66.67 million. Universal Stainless & Alloy Products had a net margin of 4.17% and a return on equity of 4.53%.

USAP has been the subject of several other reports. Zacks Investment Research raised shares of Universal Stainless & Alloy Products from a “sell” rating to a “hold” rating in a report on Wednesday, December 26th. ValuEngine cut shares of Universal Stainless & Alloy Products from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. Finally, Cowen reaffirmed a “buy” rating and issued a $20.00 price target on shares of Universal Stainless & Alloy Products in a report on Wednesday, January 23rd.

NASDAQ USAP opened at $16.68 on Friday. Universal Stainless & Alloy Products has a 12-month low of $14.11 and a 12-month high of $30.93. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.68 and a current ratio of 2.96. The company has a market capitalization of $149.47 million, a PE ratio of 13.67 and a beta of 1.48.

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in Universal Stainless & Alloy Products by 1,218.4% in the second quarter. Bank of America Corp DE now owns 22,782 shares of the basic materials company’s stock worth $539,000 after purchasing an additional 21,054 shares in the last quarter. Northern Trust Corp increased its stake in shares of Universal Stainless & Alloy Products by 97.7% in the 2nd quarter. Northern Trust Corp now owns 126,670 shares of the basic materials company’s stock worth $2,997,000 after acquiring an additional 62,584 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Universal Stainless & Alloy Products by 49.6% in the 3rd quarter. Wells Fargo & Company MN now owns 10,935 shares of the basic materials company’s stock worth $279,000 after acquiring an additional 3,625 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Universal Stainless & Alloy Products by 7.3% during the 3rd 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 during the period. Finally, BlackRock Inc. lifted its position in Universal Stainless & Alloy Products by 36.8% during the 3rd quarter. BlackRock Inc. now owns 481,061 shares of the basic materials company’s stock valued at $12,273,000 after acquiring an additional 129,376 shares during the period. 88.97% of the stock is owned by institutional investors.

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