Citigroup Upgrades U.S. Steel (X) to “Buy”

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.

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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.



U.S. Steel (NYSE:X) last posted its quarterly earnings results on Wednesday, January 31st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.09. The firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.10 billion. U.S. Steel had a net margin of 3.16% and a return on equity of 12.56%. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. equities analysts predict that U.S. Steel will post 4.99 EPS for the current fiscal year.

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.

Analyst Recommendations for U.S. Steel (NYSE:X)

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