Olympic Steel, Inc. (ZEUS) Price Target Lowered to $19.00 at Jefferies Group LLC
Olympic Steel, Inc. (NASDAQ:ZEUS) had its target price lowered by Jefferies Group LLC from $26.00 to $19.00 in a research report issued on Wednesday. The firm presently has a “hold” rating on the basic materials company’s stock. Jefferies Group LLC’s price objective would suggest a potential upside of 4.45% from the stock’s current price.
ZEUS has been the topic of a number of other reports. KeyCorp upgraded Olympic Steel from a “sector weight” rating to an “overweight” rating and set a $28.00 price target on the stock in a research note on Monday, January 9th. Zacks Investment Research downgraded Olympic Steel from a “buy” rating to a “hold” rating in a research note on Tuesday, March 7th. Finally, Macquarie upgraded Olympic Steel from a “neutral” rating to an “outperform” rating in a research note on Tuesday, March 14th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Olympic Steel has a consensus rating of “Hold” and a consensus price target of $22.75.
Shares of Olympic Steel (NASDAQ:ZEUS) traded up 6.37% on Wednesday, hitting $18.19. The company had a trading volume of 271,014 shares. The stock’s market capitalization is $199.42 million. The firm’s 50 day moving average price is $19.76 and its 200-day moving average price is $22.75. Olympic Steel has a 52 week low of $16.84 and a 52 week high of $31.19.
Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings results on Thursday, March 2nd. The basic materials company reported ($0.19) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.02. The firm had revenue of $257.60 million for the quarter, compared to the consensus estimate of $248.59 million. Olympic Steel had a negative return on equity of 1.28% and a negative net margin of 0.38%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the business posted ($0.45) EPS. Analysts forecast that Olympic Steel will post $1.27 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in ZEUS. Metropolitan Life Insurance Co. NY bought a new position in Olympic Steel during the fourth quarter valued at $169,000. Capstone Asset Management Co. increased its position in Olympic Steel by 3.5% in the first quarter. Capstone Asset Management Co. now owns 10,936 shares of the basic materials company’s stock valued at $203,000 after buying an additional 370 shares during the period. Comerica Bank bought a new position in Olympic Steel during the fourth quarter valued at $235,000. Great West Life Assurance Co. Can increased its position in Olympic Steel by 13.3% in the third quarter. Great West Life Assurance Co. Can now owns 11,248 shares of the basic materials company’s stock valued at $248,000 after buying an additional 1,317 shares during the period. Finally, KBC Group NV increased its position in Olympic Steel by 147.4% in the third quarter. KBC Group NV now owns 12,837 shares of the basic materials company’s stock valued at $284,000 after buying an additional 7,648 shares during the period. Institutional investors own 75.29% of the company’s stock.
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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