KeyBanc Downgrades Universal Stainless & Alloy (USAP) to Hold; More Cautious Near-Term

KeyBanc downgraded Universal Stainless & Alloy (NASDAQ: USAP) from Buy to Hold.

KeyBanc analyst said, "Downgrading based on more cautious near-term service center buying (over 50% of sales) and more delayed profit expectations at the Company's North Jackson assets...we are cutting our 2Q12, 2012, and 2013 EPS expectations to $0.76 (from $0.84), $3.15 (from $3.47), and $4.15 (from $4.75) vs. the Street's $0.86, $3.58, and $4.96, respectively."

For an analyst ratings summary and ratings history on Universal Stainless & Alloy click here. For more ratings news on Universal Stainless & Alloy click here.

Shares of Universal Stainless & Alloy closed at $41.57 yesterday.

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