United States Steel (NYSE:X) Rating Increased to Outperform at BMO Capital Markets

United States Steel (NYSE:X) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report issued on Wednesday, Marketbeat.com reports. The firm currently has a $45.00 target price on the basic materials company’s stock, up from their previous target price of $43.00. BMO Capital Markets’ price objective would suggest a potential upside of 22.28% from the company’s previous close.

Several other equities analysts have also commented on X. Jefferies Financial Group began coverage on United States Steel in a research note on Monday, May 20th. They issued a “buy” rating and a $45.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Morgan Stanley raised United States Steel from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $51.00 to $48.00 in a research note on Monday, May 6th. Wolfe Research raised United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research note on Tuesday, April 9th. Finally, StockNews.com began coverage on United States Steel in a research note on Monday. They issued a “hold” rating on the stock. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $38.78.

United States Steel Stock Performance

NYSE X opened at $36.80 on Wednesday. The stock’s fifty day moving average is $37.28 and its two-hundred day moving average is $42.27. The firm has a market capitalization of $8.27 billion, a P/E ratio of 10.79 and a beta of 1.99. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71. United States Steel has a fifty-two week low of $22.26 and a fifty-two week high of $50.20.

United States Steel (NYSE:X) last released its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.22 billion. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. On average, research analysts anticipate that United States Steel will post 2.69 earnings per share for the current year.

Institutional Investors Weigh In On United States Steel

Several large investors have recently bought and sold shares of the stock. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of United States Steel in the 4th quarter valued at about $25,000. Byrne Asset Management LLC increased its holdings in shares of United States Steel by 1,140.0% in the 1st quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 570 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of United States Steel in the 4th quarter valued at about $33,000. Riverview Trust Co purchased a new position in shares of United States Steel in the 1st quarter valued at about $29,000. Finally, Pineridge Advisors LLC purchased a new position in shares of United States Steel in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

United States Steel Company Profile

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.