Olympic Steel (NASDAQ:ZEUS) Stock Price Expected to Rise, KeyCorp Analyst Says

Olympic Steel (NASDAQ:ZEUS) had its target price upped by research analysts at KeyCorp from $42.00 to $43.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s target price points to a potential upside of 22.93% from the company’s current price.

Separately, StockNews.com raised shares of Olympic Steel from a “hold” rating to a “buy” rating in a research report on Friday, February 21st.

Olympic Steel Price Performance

Shares of Olympic Steel stock opened at $34.98 on Monday. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. Olympic Steel has a 52 week low of $30.29 and a 52 week high of $73.27. The company has a market cap of $389.43 million, a PE ratio of 17.76 and a beta of 1.52. The business has a 50 day moving average of $34.17 and a 200 day moving average of $37.57.

Olympic Steel (NASDAQ:ZEUS) last released its 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 company had revenue of $418.78 million during the quarter, compared to analysts’ expectations of $441.60 million. As a group, equities research analysts forecast that Olympic Steel will post 2.69 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. New Age Alpha Advisors LLC purchased a new position in Olympic Steel during the fourth quarter valued at approximately $59,000. Point72 DIFC Ltd bought a new stake in Olympic Steel during the third quarter worth approximately $184,000. HighTower Advisors LLC purchased a new stake in Olympic Steel during the 3rd quarter valued at $202,000. Magnetar Financial LLC purchased a new position in shares of Olympic Steel during the 4th quarter worth about $216,000. Finally, Los Angeles Capital Management LLC grew its stake in shares of Olympic Steel by 28.6% during the third quarter. Los Angeles Capital Management LLC now owns 6,747 shares of the basic materials company’s stock valued at $263,000 after buying an additional 1,500 shares during 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.