Jefferies Maintains Olympic Steel to Hold with Price Target $20.00

Brokerage firm Jefferies Maintains its rating on Olympic Steel(NASDAQ:ZEUS). In a research note issued to the investors, the brokerage major Lowers the price-target to $20.00 per share. The shares have been rated Hold. The rating by Jefferies was issued on Sep 15, 2016.

In a different note, On Aug 19, 2016, KeyBanc said it Downgrades its rating on Olympic Steel. The shares have been rated ‘Underweight’ by the firm.

Olympic Steel (ZEUS) shares turned negative on Tuesdays trading session with the shares closing down -0.04 points or -0.20% at a volume of 1,37,692. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $20.015. The peak price level was also seen at $20.015 while the days lowest was $19.25. Finally the shares closed at $19.48. The 52-week high of the shares is $31.19 while the 52-week low is $7.98. According to the latest information available, the market cap of the company is $213 M.

Olympic Steel(ZEUS) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $273.61M. Analysts had an estimated revenue of $305.66M. Earnings per share were $0.38. Analysts had estimated an EPS of $0.39.

Several Insider Transactions has been reported to the SEC. On Sep 15, 2015, Michael G Rippey (director) purchased 300 shares at $11.40 per share price.Also, On Sep 15, 2015, Dirk A Kempthorne (director) purchased 1,000 shares at $11.84 per share price.On May 7, 2015, Ratta Ralph M Jr Della (director) purchased 750 shares at $16.99 per share price, according to the Form-4 filing with the securities and exchange commission.

Olympic Steel Inc. is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates in two segments: flat products and tubular and pipe products. The Company’s primary flat products focus is on the direct sale and distribution of processed carbon coated aluminum and stainless flat-rolled sheet coil and plate products. CTI is a subsidiary of the Company. The tubular and pipe products segment consists of the CTI business. Through its tubular and pipe products segment the Company distributes metals tubing pipe bar valve and fittings and fabricate pressure parts supplied to various industrial markets. The Company also performs toll processing of customer-owned metals. The Company sells certain products internationally primarily in North Central and South America.

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