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

Olympic Steel (NASDAQ:ZEUS) had its price objective raised by research analysts at KeyCorp from $42.00 to $43.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s price target points to a potential upside of 22.93% from the company’s previous close.

Separately, StockNews.com raised shares of Olympic Steel from a “hold” rating to a “buy” rating in a research report on Friday, February 21st.

Olympic Steel Price Performance

Olympic Steel stock opened at $34.98 on Monday. The stock has a market capitalization of $389.43 million, a P/E ratio of 17.76 and a beta of 1.52. The company’s fifty day moving average price is $34.17 and its 200 day moving average price is $37.57. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52. Olympic Steel has a 1 year low of $30.29 and a 1 year high of $73.27.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The company had revenue of $418.78 million for the quarter, compared to analyst estimates of $441.60 million. Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. As a group, equities research analysts anticipate that Olympic Steel will post 2.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Olympic Steel

Large investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its position in shares of Olympic Steel by 2.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 30,120 shares of the basic materials company’s stock worth $1,175,000 after purchasing an additional 578 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in Olympic Steel by 2.9% in the fourth quarter. Wedge Capital Management L L P NC now owns 25,374 shares of the basic materials company’s stock valued at $833,000 after purchasing an additional 705 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Olympic Steel by 11.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 770 shares during the last quarter. Van ECK Associates Corp increased its stake in Olympic Steel by 3.7% in the fourth quarter. Van ECK Associates Corp now owns 22,080 shares of the basic materials company’s stock valued at $724,000 after purchasing an additional 780 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Olympic Steel by 6.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,891 shares of the basic materials company’s stock worth $456,000 after purchasing an additional 839 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.