United States Steel (NYSE:X) Upgraded to Buy by ValuEngine

United States Steel (NYSE:X) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Monday, ValuEngine reports.

A number of other research analysts have also recently commented on X. JPMorgan Chase & Co. cut shares of United States Steel from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $26.00 to $14.00 in a research note on Monday, September 23rd. Macquarie cut shares of United States Steel from an “outperform” rating to an “underperform” rating and cut their price target for the stock from $18.00 to $9.00 in a research note on Thursday, September 19th. Barclays assumed coverage on shares of United States Steel in a research note on Friday, September 6th. They set an “overweight” rating for the company. Credit Suisse Group cut their price target on shares of United States Steel from $9.00 to $8.00 and set an “underperform” rating for the company in a research note on Thursday, September 19th. Finally, Vertical Group upgraded shares of United States Steel from a “sell” rating to a “buy” rating in a research note on Wednesday, June 19th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $17.70.

Shares of NYSE X traded up $0.15 during mid-day trading on Monday, hitting $10.92. The company had a trading volume of 11,365,270 shares, compared to its average volume of 11,847,968. The firm has a market cap of $1.84 billion, a P/E ratio of 2.04, a PEG ratio of 7.86 and a beta of 3.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.41 and a quick ratio of 0.74. United States Steel has a 12 month low of $10.16 and a 12 month high of $29.84. The business’s 50-day simple moving average is $11.51 and its 200-day simple moving average is $14.27.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.43 billion. United States Steel had a net margin of 6.95% and a return on equity of 19.27%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 earnings per share. As a group, sell-side analysts predict that United States Steel will post 0.1 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC increased its holdings in shares of United States Steel by 448.6% in the second quarter. CWM LLC now owns 11,016 shares of the basic materials company’s stock valued at $169,000 after purchasing an additional 9,008 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of United States Steel by 26.5% in the first quarter. Advisory Services Network LLC now owns 8,822 shares of the basic materials company’s stock valued at $172,000 after purchasing an additional 1,850 shares in the last quarter. LSV Asset Management increased its holdings in shares of United States Steel by 12.3% in the second quarter. LSV Asset Management now owns 861,031 shares of the basic materials company’s stock valued at $13,182,000 after purchasing an additional 94,000 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of United States Steel by 4.5% in the second quarter. Commonwealth Equity Services LLC now owns 102,817 shares of the basic materials company’s stock valued at $1,574,000 after purchasing an additional 4,396 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of United States Steel by 348.3% in the first quarter. Private Advisor Group LLC now owns 71,906 shares of the basic materials company’s stock valued at $1,402,000 after purchasing an additional 55,868 shares in the last quarter. 60.75% of the stock is owned by institutional investors.

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 three segments: North American Flat-Rolled (Flat-Rolled), 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 all iron ore and coke.

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Analyst Recommendations for United States Steel (NYSE:X)

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