Olympic Steel (ZEUS) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of Olympic Steel (NASDAQ:ZEUS) from a hold rating to a buy rating in a report issued on Tuesday morning.

A number of other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Olympic Steel from a hold rating to a strong sell rating in a research note on Saturday. KeyCorp reiterated a hold rating on shares of Olympic Steel in a research note on Friday, November 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $20.50.

Shares of Olympic Steel (NASDAQ ZEUS) traded up $0.07 during mid-day trading on Tuesday, reaching $23.59. 127,700 shares of the company’s stock were exchanged, compared to its average volume of 102,050. The firm has a market capitalization of $263.65, a PE ratio of 21.25, a P/E/G ratio of 1.61 and a beta of 1.79. The company has a current ratio of 4.23, a quick ratio of 1.54 and a debt-to-equity ratio of 0.82. Olympic Steel has a 12-month low of $15.83 and a 12-month high of $27.16.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The firm had revenue of $331.44 million during the quarter, compared to analysts’ expectations of $323.05 million. Olympic Steel had a net margin of 0.99% and a return on equity of 4.32%. The company’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.16) earnings per share. research analysts expect that Olympic Steel will post 1.27 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in shares of Olympic Steel by 0.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,676 shares of the basic materials company’s stock worth $246,000 after buying an additional 39 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Olympic Steel by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 18,007 shares of the basic materials company’s stock worth $351,000 after buying an additional 135 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Olympic Steel by 0.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 47,363 shares of the basic materials company’s stock worth $923,000 after buying an additional 196 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Olympic Steel by 4.0% during the 2nd quarter. Citigroup Inc. now owns 12,888 shares of the basic materials company’s stock worth $251,000 after buying an additional 490 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Olympic Steel by 12.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,349 shares of the basic materials company’s stock worth $163,000 after buying an additional 934 shares during the last quarter. Institutional investors own 67.91% of the company’s stock.

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About Olympic Steel

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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