Olympic Steel (NASDAQ:ZEUS) Stock Rating Upgraded by StockNews.com

Olympic Steel (NASDAQ:ZEUS) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

Separately, KeyCorp upgraded shares of Olympic Steel from a “sector weight” rating to an “overweight” rating and set a $42.00 price target for the company in a research note on Wednesday, January 22nd.

Olympic Steel Stock Performance

NASDAQ:ZEUS opened at $37.88 on Friday. The firm has a 50-day moving average of $34.31 and a two-hundred day moving average of $37.68. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 1.26. The stock has a market cap of $421.72 million, a P/E ratio of 19.23 and a beta of 1.52. Olympic Steel has a 1-year low of $30.29 and a 1-year high of $73.49.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. The firm had revenue of $418.78 million during the quarter, compared to the consensus estimate of $441.60 million. On average, research analysts expect that Olympic Steel will post 2.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Olympic Steel

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp acquired a new stake in shares of Olympic Steel during the 4th quarter worth approximately $361,000. Public Employees Retirement System of Ohio increased its position in Olympic Steel by 58.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 18,248 shares of the basic materials company’s stock worth $599,000 after buying an additional 6,698 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Olympic Steel by 59.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,345 shares of the basic materials company’s stock valued at $569,000 after buying an additional 6,495 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Olympic Steel during the fourth quarter valued at $543,000. Finally, State of Wyoming grew its position in shares of Olympic Steel by 17.6% during the fourth quarter. State of Wyoming now owns 8,236 shares of the basic materials company’s stock worth $270,000 after acquiring an additional 1,233 shares during the last quarter. 87.07% of the stock is currently 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.