ArcelorMittal (NYSE:MT) was upgraded by equities researchers at UBS AG from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, The Fly reports.

MT has been the subject of a number of other reports. 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. ING Group upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating in a research note on Friday, July 14th. BidaskClub upgraded shares of ArcelorMittal from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Cowen and Company set a $32.00 price target on shares of ArcelorMittal and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. Finally, Deutsche Bank AG upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and lifted their price target for the stock from $25.00 to $32.00 in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. ArcelorMittal currently has a consensus rating of “Buy” and a consensus price target of $30.77.

ArcelorMittal (MT) traded up 0.869% on Friday, hitting $29.595. 1,716,537 shares of the stock were exchanged. The stock has a market cap of $30.19 billion, a price-to-earnings ratio of 9.312 and a beta of 2.10. ArcelorMittal has a 12 month low of $18.84 and a 12 month high of $29.97. The company has a 50-day moving average of $26.87 and a 200-day moving average of $24.47.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $16.88 billion. During the same period in the previous year, the business posted $0.38 earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities analysts predict that ArcelorMittal will post $3.27 EPS for the current year.

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Large investors have recently modified their holdings of the business. Integrated Investment Consultants LLC purchased a new position in ArcelorMittal during the second quarter valued at approximately $111,000. Quadrant Capital Group LLC lifted its holdings in ArcelorMittal by 24.9% during the second quarter. Quadrant Capital Group LLC now owns 7,412 shares of the basic materials company’s stock valued at $157,000 after purchasing an additional 1,479 shares in the last quarter. Sawtooth Solutions LLC purchased a new position in ArcelorMittal during the second quarter valued at approximately $206,000. Advisor Group Inc. lifted its holdings in ArcelorMittal by 160.6% during the second quarter. Advisor Group Inc. now owns 10,147 shares of the basic materials company’s stock valued at $230,000 after purchasing an additional 6,253 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in ArcelorMittal during the second quarter valued at approximately $237,000. 3.60% of the stock is currently owned by institutional investors and hedge funds.

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.

The Fly

Analyst Recommendations for ArcelorMittal (NYSE:MT)

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