United States Steel (NYSE:X) Receives New Coverage from Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of United States Steel (NYSE:X) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating on the basic materials company’s stock.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of United States Steel from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Jefferies Financial Group assumed coverage on United States Steel in a research report on Monday, May 20th. They set a “buy” rating and a $45.00 target price for the company. BMO Capital Markets raised United States Steel from a “market perform” rating to an “outperform” rating and increased their price target for the company from $43.00 to $45.00 in a research note on Wednesday, June 26th. Wolfe Research raised United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective on the stock in a research note on Tuesday, April 9th. Finally, Morgan Stanley raised shares of United States Steel from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $51.00 to $48.00 in a research report on Monday, May 6th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $40.38.

United States Steel Trading Up 1.4 %

Shares of X stock opened at $38.73 on Wednesday. United States Steel has a twelve month low of $22.26 and a twelve month high of $50.20. The stock’s fifty day simple moving average is $37.49 and its 200 day simple moving average is $41.98. The company has a quick ratio of 1.14, a current ratio of 1.71 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $8.71 billion, a P/E ratio of 11.40 and a beta of 1.93.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. The company had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.22 billion. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. As a group, sell-side analysts predict that United States Steel will post 2.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. SummerHaven Investment Management LLC grew its holdings in United States Steel by 0.9% during the fourth quarter. SummerHaven Investment Management LLC now owns 29,928 shares of the basic materials company’s stock worth $1,456,000 after buying an additional 278 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of United States Steel by 28.7% in the fourth quarter. Parallel Advisors LLC now owns 1,363 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 304 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of United States Steel by 18.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,004 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 313 shares in the last quarter. Diversified Trust Co boosted its holdings in United States Steel by 4.0% during the first quarter. Diversified Trust Co now owns 8,373 shares of the basic materials company’s stock worth $341,000 after purchasing an additional 324 shares during the last quarter. Finally, Yousif Capital Management LLC grew its position in United States Steel by 0.3% in the 4th quarter. Yousif Capital Management LLC now owns 112,000 shares of the basic materials company’s stock worth $5,449,000 after purchasing an additional 372 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

About United States Steel

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.