KeyCorp Issues Pessimistic Forecast for Olympic Steel (NASDAQ:ZEUS) Stock Price

Olympic Steel (NASDAQ:ZEUS - Get Free Report) had its price target lowered by stock analysts at KeyCorp from $43.00 to $41.00 in a research note issued on Tuesday, MarketBeat reports. The firm currently has an "overweight" rating on the basic materials company's stock. KeyCorp's target price would suggest a potential upside of 32.05% from the company's current price.

Separately, StockNews.com cut Olympic Steel from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st.

Olympic Steel Stock Performance

ZEUS traded down $1.30 during trading on Tuesday, reaching $31.05. The company's stock had a trading volume of 55,786 shares, compared to its average volume of 119,101. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52. The company's fifty day moving average price is $31.36 and its 200-day moving average price is $34.75. The company has a market capitalization of $346.61 million, a price-to-earnings ratio of 15.76 and a beta of 1.75. Olympic Steel has a 52-week low of $26.32 and a 52-week high of $56.10.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.03). Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. The company had revenue of $492.94 million during the quarter, compared to analysts' expectations of $466.80 million. On average, equities analysts forecast that Olympic Steel will post 2.69 earnings per share for the current fiscal year.

Institutional Trading of Olympic Steel

Hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc grew its holdings in Olympic Steel by 178.7% in the first quarter. Versant Capital Management Inc now owns 914 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 586 shares during the period. New Age Alpha Advisors LLC acquired a new position in Olympic Steel in the fourth quarter valued at $59,000. CWM LLC grew its position in Olympic Steel by 170.5% during the first quarter. CWM LLC now owns 2,462 shares of the basic materials company's stock valued at $78,000 after acquiring an additional 1,552 shares during the period. Meeder Asset Management Inc. acquired a new stake in Olympic Steel during the first quarter worth about $179,000. Finally, Magnetar Financial LLC purchased a new position in shares of Olympic Steel in the 4th quarter worth about $216,000. 87.07% of the stock is owned by hedge funds and other institutional investors.

About Olympic Steel

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.