ArcelorMittal (NYSE:MT) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Several other research analysts have also recently commented on MT. Zacks Investment Research cut ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Tuesday, March 21st. Cowen and Company upgraded ArcelorMittal from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $30.00 to $33.00 in a research note on Thursday, March 23rd. They noted that the move was a valuation call. Credit Suisse Group set a $45.00 price target on ArcelorMittal and gave the stock a “buy” rating in a research note on Saturday, March 25th. J P Morgan Chase & Co upgraded ArcelorMittal from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $25.20 to $25.32 in a research note on Friday, March 31st. Finally, TheStreet upgraded ArcelorMittal from a “c” rating to a “b-” rating in a research note on Monday, May 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. ArcelorMittal presently has a consensus rating of “Buy” and an average price target of $26.39.

Shares of ArcelorMittal (MT) traded down 0.17% during midday trading on Thursday, hitting $23.08. The stock had a trading volume of 6,274,287 shares. The company has a market cap of $23.53 billion, a P/E ratio of 7.65 and a beta of 2.06. The stock has a 50 day moving average of $21.60 and a 200-day moving average of $23.74. ArcelorMittal has a one year low of $13.53 and a one year high of $28.11.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Friday, May 12th. The basic materials company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.18. ArcelorMittal had a return on equity of 10.08% and a net margin of 5.38%. The business had revenue of $16.09 billion for the quarter, compared to analysts’ expectations of $16.81 billion. During the same quarter in the previous year, the firm posted ($0.69) earnings per share. The company’s revenue was up 20.1% compared to the same quarter last year. Analysts forecast that ArcelorMittal will post $2.91 EPS for the current fiscal year.

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Hedge funds have recently made changes to their positions in the stock. Iron Financial LLC boosted its stake in shares of ArcelorMittal by 50.0% in the first quarter. Iron Financial LLC now owns 15,000 shares of the basic materials company’s stock valued at $125,000 after buying an additional 5,000 shares during the last quarter. Jacobi Capital Management LLC purchased a new stake in shares of ArcelorMittal during the first quarter valued at about $127,000. US Bancorp DE boosted its stake in shares of ArcelorMittal by 14.2% in the first quarter. US Bancorp DE now owns 15,540 shares of the basic materials company’s stock valued at $129,000 after buying an additional 1,934 shares during the last quarter. MAVEN SECURITIES Ltd purchased a new stake in shares of ArcelorMittal during the first quarter valued at about $139,000. Finally, Bank of Montreal Can boosted its stake in shares of ArcelorMittal by 7.8% in the first quarter. Bank of Montreal Can now owns 22,020 shares of the basic materials company’s stock valued at $184,000 after buying an additional 1,599 shares during the last quarter. Hedge funds and other institutional investors own 9.60% of the company’s stock.

ArcelorMittal Company Profile

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

Analyst Recommendations for ArcelorMittal (NYSE:MT)

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