Olympic Steel (NASDAQ:ZEUS) Upgraded by KeyCorp to Overweight Rating

Olympic Steel (NASDAQ:ZEUS) was upgraded by equities research analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued to investors on Wednesday,Finviz reports. The firm currently has a $42.00 price target on the basic materials company’s stock. KeyCorp’s target price points to a potential upside of 25.11% from the company’s previous close.

Separately, StockNews.com lowered shares of Olympic Steel from a “buy” rating to a “hold” rating in a research note on Friday, October 25th.

Olympic Steel Stock Down 0.4 %

Olympic Steel stock opened at $33.57 on Wednesday. The stock has a market capitalization of $373.63 million, a price-to-earnings ratio of 14.72 and a beta of 1.53. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average of $37.04 and a two-hundred day moving average of $39.45. Olympic Steel has a twelve month low of $30.29 and a twelve month high of $73.49.

Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.11 earnings per share for the quarter. The firm had revenue of $470.00 million for the quarter. Olympic Steel had a net margin of 1.32% and a return on equity of 3.79%. As a group, research analysts expect that Olympic Steel will post 1.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC grew its stake in shares of Olympic Steel by 5.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 27,214 shares of the basic materials company’s stock worth $893,000 after purchasing an additional 1,432 shares during the period. SG Americas Securities LLC boosted its holdings in Olympic Steel by 29.0% during the fourth quarter. SG Americas Securities LLC now owns 8,103 shares of the basic materials company’s stock worth $266,000 after buying an additional 1,820 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in Olympic Steel by 2.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 25,374 shares of the basic materials company’s stock worth $833,000 after buying an additional 705 shares in the last quarter. JPMorgan Chase & Co. grew its position in Olympic Steel by 136.1% during the third quarter. JPMorgan Chase & Co. now owns 214,493 shares of the basic materials company’s stock worth $8,365,000 after buying an additional 123,632 shares during the period. Finally, Barclays PLC increased its holdings in Olympic Steel by 275.2% in the third quarter. Barclays PLC now owns 15,532 shares of the basic materials company’s stock valued at $606,000 after buying an additional 11,392 shares in the last quarter. Hedge funds and other institutional investors 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.