Olympic Steel (NASDAQ:ZEUS) Upgraded at StockNews.com

Olympic Steel (NASDAQ:ZEUS) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Olympic Steel Stock Performance

ZEUS stock traded up $0.66 on Tuesday, hitting $38.53. The company’s stock had a trading volume of 273,134 shares, compared to its average volume of 115,477. The stock has a market cap of $428.95 million, a price-to-earnings ratio of 10.27 and a beta of 1.48. The firm has a 50 day moving average of $41.88 and a two-hundred day moving average of $51.64. The company has a current ratio of 3.77, a quick ratio of 1.43 and a debt-to-equity ratio of 0.37. Olympic Steel has a 1 year low of $34.81 and a 1 year high of $73.49.

Olympic Steel (NASDAQ:ZEUS) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. Olympic Steel had a net margin of 1.74% and a return on equity of 4.98%. The business had revenue of $526.25 million during the quarter. During the same period in the previous year, the company posted $1.24 earnings per share.

Institutional Investors Weigh In On Olympic Steel

Several hedge funds have recently modified their holdings of ZEUS. EntryPoint Capital LLC purchased a new position in Olympic Steel during the 1st quarter worth $61,000. Innealta Capital LLC purchased a new position in Olympic Steel during the second quarter worth about $58,000. Cornerstone Investment Partners LLC acquired a new stake in Olympic Steel in the first quarter valued at about $207,000. XTX Topco Ltd purchased a new stake in Olympic Steel in the 2nd quarter valued at approximately $201,000. Finally, Harvest Investment Services LLC acquired a new position in Olympic Steel during the 4th quarter worth approximately $395,000. 87.07% of the stock is owned by institutional investors and hedge funds.

About Olympic Steel

Olympic Steel, Inc processes, distributes, and stores metal products primarily in the United States, Canada, and Mexico. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The company offers stainless steel and aluminum coil and sheet products, angles, rounds, and flat bars; alloy, heat treated, and abrasion resistant coils, sheets and plates; coated metals, including galvanized, galvannealed, electro galvanized, advanced high strength steels, aluminized, and automotive grades of steel; commercial quality, advanced high strength steel, drawing steel, and automotive grades cold rolled steel coil and sheet products; hot rolled carbon comprising hot rolled coil, pickled and oiled sheet and plate steel products, automotive grades, advanced high strength steels, and high strength low alloys; tube, pipe, and bar products, including round, square, and rectangular mechanical and structural tubing; hydraulic and stainless tubing; boiler tubing; carbon, stainless, and aluminum pipes; valves and fittings; and tin mill products, such as electrolytic tinplate, electrolytic chromium coated steel, and black plates.