Macquarie initiated coverage on shares of United States Steel Corporation (NYSE:X) in a note issued to investors on Wednesday, Marketbeat.com reports. The firm set an “outperform” rating and a $31.00 price target on the basic materials company’s stock. Macquarie’s target price suggests a potential upside of 14.99% from the stock’s current price.

A number of other brokerages also recently issued reports on X. Standpoint Research downgraded shares of United States Steel Corporation from a “buy” rating to a “reduce” rating in a research note on Tuesday, September 5th. Bank of America Corporation upgraded shares of United States Steel Corporation from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $29.00 to $31.00 in a research note on Tuesday, September 5th. Cowen and Company reiterated a “hold” rating and issued a $24.00 price target on shares of United States Steel Corporation in a research note on Friday, September 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $32.00 price target on shares of United States Steel Corporation in a research note on Thursday, August 31st. Finally, BidaskClub upgraded shares of United States Steel Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $28.40.

Shares of United States Steel Corporation (NYSE X) traded down 2.60% during midday trading on Wednesday, hitting $26.96. 13,235,606 shares of the stock traded hands. The stock has a 50-day moving average of $24.67 and a 200-day moving average of $26.47. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 170.63 and a beta of 2.88. United States Steel Corporation has a 52-week low of $15.72 and a 52-week high of $41.83.

United States Steel Corporation (NYSE:X) last announced its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.66. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.98 billion. United States Steel Corporation had a net margin of 0.24% and a return on equity of 6.50%. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.32) earnings per share. On average, equities analysts predict that United States Steel Corporation will post $1.74 earnings per share for the current fiscal year.

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In other news, Director Murry Gerber acquired 4,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were bought at an average cost of $26.89 per share, with a total value of $107,560.00. Following the purchase, the director now owns 168,457 shares of the company’s stock, valued at approximately $4,529,808.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin Bradley acquired 22,835 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was purchased at an average cost of $27.62 per share, for a total transaction of $630,702.70. Following the completion of the purchase, the chief financial officer now directly owns 30,415 shares in the company, valued at approximately $840,062.30. The disclosure for this purchase can be found here. Insiders bought a total of 63,597 shares of company stock worth $1,739,292 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Tudor Investment Corp ET AL increased its stake in United States Steel Corporation by 160.8% in the 1st quarter. Tudor Investment Corp ET AL now owns 30,407 shares of the basic materials company’s stock valued at $1,028,000 after buying an additional 80,407 shares during the period. Scopus Asset Management L.P. grew its stake in shares of United States Steel Corporation by 203.3% during the 1st quarter. Scopus Asset Management L.P. now owns 206,600 shares of the basic materials company’s stock worth $6,985,000 after purchasing an additional 406,600 shares during the period. BlackRock Inc. grew its stake in shares of United States Steel Corporation by 12,021.7% during the 1st quarter. BlackRock Inc. now owns 14,279,755 shares of the basic materials company’s stock worth $482,799,000 after purchasing an additional 14,161,952 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of United States Steel Corporation by 1,971.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,315 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 3,155 shares during the period. Finally, Private Advisor Group LLC grew its stake in shares of United States Steel Corporation by 14.0% during the 1st quarter. Private Advisor Group LLC now owns 18,040 shares of the basic materials company’s stock worth $589,000 after purchasing an additional 2,221 shares during the period. 63.37% of the stock is currently owned by institutional investors.

About United States Steel Corporation

United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).

Analyst Recommendations for United States Steel Corporation (NYSE:X)

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