Olympic Steel (NASDAQ:ZEUS) Given New $41.00 Price Target at KeyCorp

Olympic Steel (NASDAQ:ZEUS - Get Free Report) had its price target lowered by equities researchers at KeyCorp from $43.00 to $41.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the basic materials company's stock. KeyCorp's price objective would indicate a potential upside of 25.84% from the company's current price.

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

Olympic Steel Price Performance

Shares of NASDAQ:ZEUS opened at $32.58 on Tuesday. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. Olympic Steel has a twelve month low of $26.32 and a twelve month high of $58.54. The company's 50 day moving average is $31.42 and its 200 day moving average is $34.90. The company has a market cap of $363.69 million, a PE ratio of 16.55 and a beta of 1.75.

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). The company had revenue of $492.94 million during the quarter, compared to analyst estimates of $466.80 million. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. On average, sell-side analysts forecast that Olympic Steel will post 2.69 EPS for the current year.

Institutional Investors Weigh In On Olympic Steel

Institutional investors and hedge funds have recently bought and sold shares of the stock. Foundry Partners LLC acquired a new position in shares of Olympic Steel in the 1st quarter valued at approximately $4,082,000. JPMorgan Chase & Co. raised 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 valued at $8,365,000 after buying an additional 123,632 shares during the period. Barclays PLC grew its holdings in shares of Olympic Steel by 648.0% during the 4th quarter. Barclays PLC now owns 116,182 shares of the basic materials company's stock valued at $3,812,000 after acquiring an additional 100,650 shares in the last quarter. Norges Bank acquired a new stake in Olympic Steel in the fourth quarter valued at approximately $3,035,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Olympic Steel by 34.4% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 165,040 shares of the basic materials company's stock valued at $5,415,000 after buying an additional 42,267 shares in the last quarter. Hedge funds and other institutional investors own 87.07% of the company's stock.

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.

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