United States Steel (NYSE:X – Get Free Report) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Monday, Briefing.com reports. The brokerage presently has a $40.00 price target on the basic materials company’s stock, up from their previous price target of $25.00. Morgan Stanley’s price objective suggests a potential upside of 23.15% from the company’s previous close.
Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. dropped their price target on United States Steel from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Friday, July 14th. Citigroup increased their price objective on shares of United States Steel from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, September 25th. StockNews.com assumed coverage on shares of United States Steel in a research report on Tuesday, September 26th. They issued a “hold” rating on the stock. BMO Capital Markets lowered their target price on United States Steel from $27.00 to $26.00 in a report on Monday, July 31st. Finally, BNP Paribas lowered United States Steel from an “outperform” rating to a “neutral” rating and set a $26.00 price target on the stock. in a report on Wednesday, July 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, United States Steel has an average rating of “Hold” and an average target price of $27.13.
United States Steel Price Performance
Shares of X stock opened at $32.48 on Monday. The firm’s 50 day moving average price is $29.09 and its two-hundred day moving average price is $25.63. The stock has a market cap of $7.24 billion, a PE ratio of 6.25 and a beta of 2.09. United States Steel has a 52-week low of $18.10 and a 52-week high of $32.68. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.30 and a current ratio of 1.92.
United States Steel (NYSE:X – Get Free Report) last issued its earnings results on Friday, July 28th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.06. The firm had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $5.11 billion. United States Steel had a return on equity of 13.51% and a net margin of 7.05%. The company’s revenue was down 20.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.86 earnings per share. As a group, analysts forecast that United States Steel will post 4.04 EPS for the current year.
Insider Transactions at United States Steel
In other United States Steel news, SVP Scott D. Buckiso sold 8,970 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $31.16, for a total value of $279,505.20. Following the completion of the sale, the senior vice president now owns 106,854 shares in the company, valued at $3,329,570.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other United States Steel news, SVP Scott D. Buckiso sold 8,970 shares of United States Steel stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $31.16, for a total transaction of $279,505.20. Following the completion of the transaction, the senior vice president now directly owns 106,854 shares of the company’s stock, valued at $3,329,570.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kenneth E. Jaycox sold 10,756 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $30.75, for a total transaction of $330,747.00. Following the completion of the transaction, the senior vice president now directly owns 85,480 shares in the company, valued at $2,628,510. The disclosure for this sale can be found here. Insiders have sold a total of 101,944 shares of company stock worth $3,217,822 in the last 90 days. Corporate insiders own 0.98% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of United States Steel in the 4th quarter valued at $61,925,000. First Trust Advisors LP grew its position in shares of United States Steel by 155.8% in the 1st quarter. First Trust Advisors LP now owns 3,309,824 shares of the basic materials company’s stock valued at $124,913,000 after buying an additional 2,015,980 shares during the last quarter. KGH Ltd increased its stake in shares of United States Steel by 38.6% in the second quarter. KGH Ltd now owns 4,173,769 shares of the basic materials company’s stock valued at $104,386,000 after buying an additional 1,163,000 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of United States Steel by 930.3% in the first quarter. Balyasny Asset Management L.P. now owns 1,252,910 shares of the basic materials company’s stock valued at $32,701,000 after buying an additional 1,131,304 shares during the period. Finally, Barclays PLC raised its position in shares of United States Steel by 181.4% during the second quarter. Barclays PLC now owns 1,710,355 shares of the basic materials company’s stock worth $42,777,000 after acquiring an additional 1,102,512 shares during the last quarter. Institutional investors and hedge funds own 74.60% of the company’s stock.
About United States Steel
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.