Stock Buzzer: Olympic Steel, Inc.’s Stock Is Sell After Today’s Big Decline

Stock Buzzer: Olympic Steel, Inc.'s Stock Is Sell After Today's Big Decline

The stock of Olympic Steel, Inc. (NASDAQ:ZEUS) is a huge mover today! The stock decreased 3.62% or $0.8 during the last trading session, hitting $21.3. About 135,084 shares traded hands. Olympic Steel, Inc. (NASDAQ:ZEUS) has risen 87.34% since March 1, 2016 and is uptrending. It has outperformed by 75.12% the S&P500.
The move comes after 9 months negative chart setup for the $239.84 million company. It was reported on Oct, 4 by We have $18.74 PT which if reached, will make NASDAQ:ZEUS worth $28.78 million less.

Analysts await Olympic Steel, Inc. (NASDAQ:ZEUS) to report earnings on November, 3. They expect $0.44 earnings per share, up 980.00% or $0.49 from last year’s $-0.05 per share. ZEUS’s profit will be $4.95M for 12.10 P/E if the $0.44 EPS becomes a reality. After $0.38 actual earnings per share reported by Olympic Steel, Inc. for the previous quarter, Wall Street now forecasts 15.79% EPS growth.

Olympic Steel, Inc. (NASDAQ:ZEUS) Ratings Coverage

Out of 2 analysts covering Olympic Steel Inc (NASDAQ:ZEUS), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Olympic Steel Inc has been the topic of 8 analyst reports since July 22, 2015 according to StockzIntelligence Inc. On Monday, August 24 the stock rating was upgraded by Jefferies to “Buy”. KeyBanc Capital Markets upgraded Olympic Steel, Inc. (NASDAQ:ZEUS) on Monday, September 19 to “Sector Weight” rating. The stock has “Sector Weight” rating given by KeyBanc Capital Markets on Monday, September 21. The stock has “Buy” rating given by Jefferies on Wednesday, January 13. The company was downgraded on Monday, March 21 by Jefferies. On Friday, August 19 the stock rating was downgraded by KeyBanc Capital Markets to “Underweight”.

According to Zacks Investment Research, “OLYMPIC STEEL INC. is a specialized steel service center that processes and distributes flat- rolled carbon, stainless and tubular steel products. Co. operates as an intermediary between steel producers and manufacturers that require processed steel for their operations. Co. purchases flat-rolled steel typically from steel producers and responds to its customers’ needs by processing steel to customer specifications and by providing critical inventory and just-in-time delivery services.”

Insitutional Activity: The institutional sentiment increased to 1.81 in Q2 2016. Its up 0.28, from 1.53 in 2016Q1. The ratio is positive, as 8 funds sold all Olympic Steel, Inc. shares owned while 29 reduced positions. 31 funds bought stakes while 36 increased positions. They now own 7.84 million shares or 10.14% more from 7.12 million shares in 2016Q1.
Eam Investors Limited Liability Com holds 0.29% of its portfolio in Olympic Steel, Inc. (NASDAQ:ZEUS) for 71,527 shares. Manufacturers Life Insur The holds 0% of its portfolio in Olympic Steel, Inc. (NASDAQ:ZEUS) for 7,024 shares. Capstone Asset Mgmt has 10,066 shares for 0.01% of their US portfolio. Comerica Bank holds 0% or 8,932 shares in its portfolio. Diam Co Ltd has invested 0.01% of its portfolio in Olympic Steel, Inc. (NASDAQ:ZEUS). Panagora Asset Management Inc reported 66,138 shares or 0.01% of all its holdings. Tiaa Cref Investment Management Limited Liability Corp holds 0% or 62,757 shares in its portfolio. D E Shaw & accumulated 0% or 40,461 shares. Invesco Ltd reported 104,503 shares or 0% of all its holdings. Moreover, Peak6 Investments Limited Partnership has 0% invested in Olympic Steel, Inc. (NASDAQ:ZEUS) for 287 shares. Millennium Mgmt Lc accumulated 0% or 7,802 shares. California State Teachers Retirement System has invested 0% of its portfolio in Olympic Steel, Inc. (NASDAQ:ZEUS). Royal National Bank & Trust Of Canada holds 18,279 shares or 0% of its portfolio. Guggenheim Cap Lc has 77,229 shares for 0.01% of their US portfolio. Nationwide Fund owns 38,660 shares or 0% of their US portfolio.

More recent Olympic Steel, Inc. (NASDAQ:ZEUS) news were published by: which released: “Olympic Steel Inc. names Andrew Greiff as EVP, chief operating officer” on August 24, 2016. Also published the news titled: “/quotes/zigman/3870025/realtime” on January 30, 2011.‘s news article titled: “Olympic Steel Names Steve Reyes Vice President, Central Region” with publication date: June 27, 2016 was also an interesting one.

ZEUS Company Profile

Olympic Steel, Inc., incorporated on April 25, 1978, is a metals service center. The Firm provides metals processing and distribution services for a range of customers. The Firm operates through three divisions: carbon flat products, specialty metals flat products, and tubular and pipe products. The Firm also performs toll processing of customer-owned metals. It sells certain products internationally, primarily in Canada, Puerto Rico and Mexico. The Firm maintains an inventory of carbon, stainless and aluminum coil, plate and sheet products, and tubular and pipe products. Coil is in the form of a continuous sheet, typically 36 to 96 inches wide, between 0.015 and 0.625 inches thick, and rolled into 10 to 30 ton coils.

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