ArcelorMittal (NYSE:MT)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Group LLC in a report issued on Monday.

Several other research analysts have also issued reports on the stock. Bank of America Corporation lowered shares of ArcelorMittal from a “buy” rating to an “underperform” rating in a research note on Tuesday, June 6th. ValuEngine upgraded shares of ArcelorMittal from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. ING Group upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating in a research note on Friday, July 14th. Zacks Investment Research upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Tuesday, July 11th. Finally, BidaskClub upgraded shares of ArcelorMittal from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $31.06.

ArcelorMittal (MT) traded up 1.0625% during midday trading on Monday, hitting $27.0241. 1,882,951 shares of the stock traded hands. The stock has a market capitalization of $27.56 billion, a P/E ratio of 8.5035 and a beta of 2.10. ArcelorMittal has a 52 week low of $16.14 and a 52 week high of $28.11. The stock’s 50-day moving average price is $26.44 and its 200-day moving average price is $24.34.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, July 27th. The basic materials company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.55. ArcelorMittal had a net margin of 5.50% and a return on equity of 10.52%. The firm had revenue of $17.24 billion during the quarter, compared to analysts’ expectations of $16.88 billion. During the same period last year, the company posted $0.38 EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities research analysts expect that ArcelorMittal will post $3.12 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “ArcelorMittal (MT) Given Buy Rating at Jefferies Group LLC” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another site, it was illegally stolen and republished in violation of United States & international trademark and copyright laws. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/09/18/arcelormittal-mt-given-buy-rating-at-jefferies-group-llc.html.

A number of large investors have recently added to or reduced their stakes in MT. Cambiar Investors LLC purchased a new stake in shares of ArcelorMittal during the 2nd quarter valued at about $114,710,000. Renaissance Technologies LLC boosted its holdings in shares of ArcelorMittal by 311.2% during the 1st quarter. Renaissance Technologies LLC now owns 4,760,754 shares of the basic materials company’s stock valued at $39,755,000 after acquiring an additional 3,603,075 shares during the last quarter. Credit Suisse AG boosted its holdings in shares of ArcelorMittal by 2,724.4% during the 1st quarter. Credit Suisse AG now owns 4,540,212 shares of the basic materials company’s stock valued at $37,910,000 after acquiring an additional 4,379,463 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of ArcelorMittal by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,756,562 shares of the basic materials company’s stock valued at $31,367,000 after acquiring an additional 97,928 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of ArcelorMittal by 2.3% during the 1st quarter. FMR LLC now owns 2,937,110 shares of the basic materials company’s stock valued at $24,525,000 after acquiring an additional 67,100 shares during the last quarter. Institutional investors and hedge funds own 3.57% 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)

Receive News & Ratings for ArcelorMittal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcelorMittal and related companies with MarketBeat.com's FREE daily email newsletter.