United States Steel (NYSE:X) Stock Price Expected to Rise, Morgan Stanley Analyst Says

United States Steel (NYSE:X) had its target price increased by analysts at Morgan Stanley from $39.00 to $43.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the basic materials company’s stock. Morgan Stanley’s price target suggests a potential upside of 18.95% from the company’s previous close.

A number of other analysts have also issued reports on the company. JPMorgan Chase & Co. cut their price objective on shares of United States Steel from $44.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, January 17th. BMO Capital Markets reduced their price objective on United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Bank of America began coverage on United States Steel in a report on Monday, January 6th. They issued a “neutral” rating and a $35.00 target price for the company. Finally, Jefferies Financial Group lowered their price target on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.32.

United States Steel Stock Down 2.8 %

Shares of X traded down $1.04 during midday trading on Friday, hitting $36.15. 2,753,338 shares of the company’s stock traded hands, compared to its average volume of 6,971,314. United States Steel has a 1 year low of $26.92 and a 1 year high of $47.79. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86. The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average is $36.49 and its 200-day moving average is $36.70.

United States Steel (NYSE:X) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. As a group, sell-side analysts anticipate that United States Steel will post 1.43 earnings per share for the current year.

Institutional Investors Weigh In On United States Steel

Institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its position in United States Steel by 64.0% during the 4th quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company’s stock worth $25,000 after buying an additional 277 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in United States Steel by 9.2% in the 3rd quarter. Rakuten Securities Inc. now owns 3,328 shares of the basic materials company’s stock worth $118,000 after acquiring an additional 279 shares during the period. D.A. Davidson & CO. lifted its stake in shares of United States Steel by 0.7% in the third quarter. D.A. Davidson & CO. now owns 44,450 shares of the basic materials company’s stock worth $1,570,000 after acquiring an additional 301 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of United States Steel by 4.8% during the third quarter. Captrust Financial Advisors now owns 7,012 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 321 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in United States Steel by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 6,880 shares of the basic materials company’s stock valued at $234,000 after purchasing an additional 366 shares during the last quarter. 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.