ArcelorMittal (NYSE:MT) Given Hold Rating at Deutsche Bank Aktiengesellschaft

ArcelorMittal (NYSE:MT)‘s stock had its “hold” rating reiterated by equities researchers at Deutsche Bank Aktiengesellschaft in a research report issued on Tuesday, MarketBeat reports. They presently have a $31.00 target price on the basic materials company’s stock, down from their previous target price of $34.00. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 23.46% from the company’s current price.

Separately, StockNews.com downgraded ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Monday, March 4th.

ArcelorMittal Price Performance

Shares of MT stock opened at $25.11 on Tuesday. The stock has a 50 day moving average of $26.85 and a two-hundred day moving average of $25.88. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.15. ArcelorMittal has a 12 month low of $21.30 and a 12 month high of $30.15. The company has a market capitalization of $20.22 billion, a P/E ratio of 25.11, a P/E/G ratio of 0.34 and a beta of 1.93.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, February 8th. The basic materials company reported ($3.57) EPS for the quarter, missing analysts’ consensus estimates of ($2.08) by ($1.49). ArcelorMittal had a return on equity of 8.55% and a net margin of 1.35%. The firm had revenue of $14.55 billion during the quarter, compared to the consensus estimate of $16.39 billion. During the same quarter in the prior year, the business posted $1.37 EPS. ArcelorMittal’s revenue was down 13.8% compared to the same quarter last year. As a group, equities analysts expect that ArcelorMittal will post 4.37 EPS for the current year.

Hedge Funds Weigh In On ArcelorMittal

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wetherby Asset Management Inc. lifted its position in shares of ArcelorMittal by 3.7% during the 1st quarter. Wetherby Asset Management Inc. now owns 11,474 shares of the basic materials company’s stock worth $367,000 after buying an additional 411 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of ArcelorMittal by 84.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,128 shares of the basic materials company’s stock worth $32,000 after buying an additional 517 shares during the period. Creative Planning raised its position in ArcelorMittal by 6.3% in the 2nd quarter. Creative Planning now owns 9,063 shares of the basic materials company’s stock valued at $205,000 after purchasing an additional 540 shares during the last quarter. Advisor Partners II LLC raised its position in ArcelorMittal by 4.9% in the 1st quarter. Advisor Partners II LLC now owns 14,686 shares of the basic materials company’s stock valued at $442,000 after purchasing an additional 681 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in ArcelorMittal by 10.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,874 shares of the basic materials company’s stock valued at $252,000 after purchasing an additional 758 shares during the last quarter. Institutional investors own 9.88% of the company’s stock.

ArcelorMittal Company Profile

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.