Olympic Steel (NASDAQ:ZEUS) Price Target Raised to $43.00 at KeyCorp

Olympic Steel (NASDAQ:ZEUS - Get Free Report) had its price target increased by investment analysts at KeyCorp from $42.00 to $43.00 in a report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the basic materials company's stock. KeyCorp's price objective would indicate a potential upside of 29.91% from the company's previous close.

Separately, StockNews.com upgraded Olympic Steel from a "hold" rating to a "buy" rating in a report on Friday, February 21st.

Olympic Steel Trading Down 8.1 %

ZEUS stock traded down $2.90 during trading on Monday, reaching $33.10. The company had a trading volume of 182,995 shares, compared to its average volume of 79,016. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 1.26. Olympic Steel has a 52 week low of $30.29 and a 52 week high of $73.27. The business has a 50 day moving average of $34.16 and a 200 day moving average of $37.56. The company has a market cap of $368.60 million, a P/E ratio of 16.80 and a beta of 1.52.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.05. The firm had revenue of $418.78 million for the quarter, compared to the consensus estimate of $441.60 million. Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. As a group, sell-side analysts forecast that Olympic Steel will post 2.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Olympic Steel

Large investors have recently made changes to their positions in the business. New Age Alpha Advisors LLC bought a new position in Olympic Steel during the 4th quarter valued at approximately $59,000. Point72 DIFC Ltd purchased a new stake in shares of Olympic Steel in the third quarter worth $184,000. HighTower Advisors LLC bought a new position in shares of Olympic Steel during the third quarter valued at $202,000. Magnetar Financial LLC bought a new position in shares of Olympic Steel during the fourth quarter valued at $216,000. Finally, Los Angeles Capital Management LLC raised its position in shares of Olympic Steel by 28.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 6,747 shares of the basic materials company's stock worth $263,000 after purchasing an additional 1,500 shares during the last quarter. 87.07% of the stock is currently 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.