Olympic Steel (NASDAQ:ZEUS) Downgraded by Wall Street Zen to “Hold”

Olympic Steel (NASDAQ:ZEUS) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

Separately, KeyCorp cut their price target on Olympic Steel from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday.

Olympic Steel Stock Performance

NASDAQ ZEUS opened at $31.13 on Friday. The business’s 50-day moving average price is $32.38 and its 200 day moving average price is $32.45. Olympic Steel has a twelve month low of $26.32 and a twelve month high of $43.60. The company has a market capitalization of $348.66 million, a PE ratio of 25.52 and a beta of 1.72. The company has a current ratio of 3.07, a quick ratio of 1.18 and a debt-to-equity ratio of 0.40.

Olympic Steel (NASDAQ:ZEUS) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). The company had revenue of $496.48 million for the quarter, compared to analysts’ expectations of $506.60 million. Olympic Steel had a net margin of 0.77% and a return on equity of 1.95%. On average, research analysts predict that Olympic Steel will post 2.69 earnings per share for the current year.

Institutional Trading of Olympic Steel

Hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc increased its position in Olympic Steel by 178.7% during the first quarter. Versant Capital Management Inc now owns 914 shares of the basic materials company’s stock worth $29,000 after buying an additional 586 shares during the last quarter. New Age Alpha Advisors LLC boosted its holdings in shares of Olympic Steel by 33.6% during the first quarter. New Age Alpha Advisors LLC now owns 2,406 shares of the basic materials company’s stock worth $76,000 after acquiring an additional 605 shares during the period. CWM LLC boosted its holdings in shares of Olympic Steel by 170.5% during the first quarter. CWM LLC now owns 2,462 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 1,552 shares during the period. Quantbot Technologies LP boosted its stake in shares of Olympic Steel by 20.1% in the first quarter. Quantbot Technologies LP now owns 4,954 shares of the basic materials company’s stock valued at $156,000 after buying an additional 830 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of Olympic Steel in the first quarter valued at approximately $179,000. Institutional investors and hedge funds own 87.07% of the company’s stock.

Olympic Steel Company Profile

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.