United States Steel (NYSE:X) Now Covered by Analysts at Bank of America

Research analysts at Bank of America assumed coverage on shares of United States Steel (NYSE:X) in a research note issued on Monday, Marketbeat.com reports. The brokerage set a “neutral” rating and a $35.00 price target on the basic materials company’s stock. Bank of America‘s price objective points to a potential upside of 4.92% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $40.00 to $42.00 in a report on Monday, September 9th. Glj Research raised shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective for the company in a research note on Monday, September 9th. Jefferies Financial Group cut their target price on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday. Finally, BMO Capital Markets decreased their price target on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.32.

United States Steel Trading Up 1.2 %

Shares of NYSE X opened at $33.36 on Monday. The stock has a market capitalization of $7.51 billion, a P/E ratio of 21.95 and a beta of 1.88. United States Steel has a 1-year low of $26.92 and a 1-year high of $48.85. The business’s 50 day moving average is $36.51 and its two-hundred day moving average is $37.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.67 and a quick ratio of 1.08.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.15. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. United States Steel’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 EPS. As a group, research analysts expect that United States Steel will post 2.17 EPS for the current year.

Institutional Trading of United States Steel

Several institutional investors and hedge funds have recently made changes to their positions in X. Palouse Capital Management Inc. bought a new stake in United States Steel during the 3rd quarter valued at $35,000. Gladius Capital Management LP purchased a new stake in shares of United States Steel during the 3rd quarter worth $39,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of United States Steel during the 2nd quarter worth $46,000. GAMMA Investing LLC boosted its position in United States Steel by 50.0% during the fourth quarter. GAMMA Investing LLC now owns 1,326 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 442 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in United States Steel in the third quarter valued at about $59,000. 81.92% of the stock is currently 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. 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.