Olympic Steel (NASDAQ:ZEUS) Upgraded at KeyCorp

Olympic Steel (NASDAQ:ZEUS - Get Free Report) was upgraded by equities researchers at KeyCorp from a "sector weight" rating to an "overweight" rating in a note issued to investors on Wednesday, MarketBeat.com reports. The firm presently has a $42.00 target price on the basic materials company's stock. KeyCorp's target price suggests a potential upside of 23.06% from the stock's current price.

Separately, StockNews.com cut shares of Olympic Steel from a "buy" rating to a "hold" rating in a report on Friday, October 25th.

Olympic Steel Stock Up 1.7 %

NASDAQ ZEUS traded up $0.56 on Wednesday, hitting $34.13. 74,098 shares of the stock traded hands, compared to its average volume of 68,108. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average of $37.04 and a 200 day moving average of $39.45. Olympic Steel has a twelve month low of $30.29 and a twelve month high of $73.49. The company has a market capitalization of $379.87 million, a P/E ratio of 14.97 and a beta of 1.53.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.11 EPS for the quarter. The company had revenue of $470.00 million during the quarter. Olympic Steel had a return on equity of 3.79% and a net margin of 1.32%. As a group, analysts expect that Olympic Steel will post 1.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Olympic Steel

A number of hedge funds and other institutional investors have recently modified their holdings of ZEUS. Exchange Traded Concepts LLC lifted its stake in Olympic Steel by 5.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 27,214 shares of the basic materials company's stock valued at $893,000 after buying an additional 1,432 shares in the last quarter. SG Americas Securities LLC raised its position in Olympic Steel by 29.0% during the fourth quarter. SG Americas Securities LLC now owns 8,103 shares of the basic materials company's stock valued at $266,000 after buying an additional 1,820 shares during the period. Wedge Capital Management L L P NC lifted its stake in Olympic Steel by 2.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 25,374 shares of the basic materials company's stock worth $833,000 after acquiring an additional 705 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Olympic Steel by 136.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 214,493 shares of the basic materials company's stock worth $8,365,000 after acquiring an additional 123,632 shares during the period. Finally, Barclays PLC raised its holdings in shares of Olympic Steel by 275.2% during the third quarter. Barclays PLC now owns 15,532 shares of the basic materials company's stock worth $606,000 after acquiring an additional 11,392 shares in the last quarter. Institutional investors and hedge funds 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.