U.S. Steel (NYSE:X) was upgraded by analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Monday, April 2nd, MarketBeat reports. The brokerage currently has a $47.64 price objective on the basic materials company’s stock, up from their prior price objective of $18.55. Citigroup’s target price indicates a potential upside of 31.46% from the company’s current price.
Several other research firms have also issued reports on X. Morgan Stanley decreased their price target on shares of U.S. Steel from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. Credit Suisse Group raised their price objective on shares of U.S. Steel from $34.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. ValuEngine raised shares of U.S. Steel from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Goldman Sachs assumed coverage on shares of U.S. Steel in a research note on Tuesday, March 20th. They issued a “neutral” rating and a $45.00 price objective for the company. Finally, Deutsche Bank raised their price objective on shares of U.S. Steel from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, March 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. U.S. Steel presently has a consensus rating of “Hold” and a consensus target price of $40.21.
U.S. Steel stock traded up $0.49 during mid-day trading on Monday, hitting $36.24. The company’s stock had a trading volume of 7,045,539 shares, compared to its average volume of 13,441,284. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.11 and a current ratio of 1.75. The firm has a market cap of $6,245.61, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 0.89 and a beta of 2.97. U.S. Steel has a twelve month low of $18.55 and a twelve month high of $47.64.
In related news, VP David J. Rintoul sold 10,000 shares of U.S. Steel stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $40.00, for a total value of $400,000.00. Following the completion of the sale, the vice president now owns 35,809 shares of the company’s stock, valued at approximately $1,432,360. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Sara A. Greenstein sold 2,757 shares of U.S. Steel stock in a transaction on Monday, February 26th. The shares were sold at an average price of $45.05, for a total transaction of $124,202.85. Following the completion of the sale, the vice president now directly owns 35,282 shares of the company’s stock, valued at approximately $1,589,454.10. The disclosure for this sale can be found here. Insiders have sold a total of 107,959 shares of company stock valued at $4,465,141 in the last three months. Company insiders own 1.01% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in X. Chemical Bank bought a new position in shares of U.S. Steel during the 4th quarter worth about $208,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of U.S. Steel by 24.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 73,221 shares of the basic materials company’s stock worth $2,577,000 after purchasing an additional 14,617 shares during the period. Fairfield Bush & CO. bought a new position in shares of U.S. Steel during the 4th quarter worth about $211,000. We Are One Seven LLC bought a new position in shares of U.S. Steel during the 4th quarter worth about $132,000. Finally, Banco de Sabadell S.A bought a new position in shares of U.S. Steel during the 4th quarter worth about $100,000. Hedge funds and other institutional investors own 68.29% of the company’s stock.
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About U.S. Steel
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
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