Steel Partners (NYSE:SPLP) Shares Gap Up - Still a Buy?

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $39.40, but opened at $40.20. Steel Partners shares last traded at $42.02, with a volume of 181 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Steel Partners in a report on Tuesday. They issued a "strong-buy" rating for the company.

Steel Partners Price Performance

The company's fifty day simple moving average is $42.01 and its 200 day simple moving average is $40.44. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $767.78 million, a PE ratio of 4.11 and a beta of 1.38.

Steel Partners (NYSE:SPLP - Get Free Report) last released its earnings results on Friday, November 8th. The conglomerate reported $1.65 EPS for the quarter. The company had revenue of $520.42 million during the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Hedge Funds Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. De Lisle Partners LLP boosted its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP - Free Report) by 83.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,877 shares of the conglomerate's stock after purchasing an additional 10,377 shares during the period. De Lisle Partners LLP owned about 0.12% of Steel Partners worth $924,000 at the end of the most recent reporting period. 50.75% of the stock is currently owned by institutional investors.

Steel Partners Company Profile

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, banking, defense, supply chain management, logistics, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, Financial Services, and Supply Chain segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.