Universal Stainless & Alloy Products Inc. (USAP) saw a big move last session, as the company’s shares fell by nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for USAP as the stock is now up over 8% since Oct 22.
This slump shouldn’t be too much of a surprise to investors, as this steel & iron producer has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
USAP currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.
Some better-ranked stocks in the Steel – Producers sector include Nucor Corporation (NUE), LB Foster Co. (FSTR) and Mechel OAO (MTL). While Nucor Corporation carries a Zacks Rank #1 (Strong Buy), LB Foster and Mechel OAO hold a Zacks Rank #2 (Buy).
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