United States Steel (X) Upgraded at Longbow Research

United States Steel (NYSE:X) was upgraded by research analysts at Longbow Research from a “neutral” rating to a “buy” rating in a report issued on Wednesday, Marketbeat.com reports.

X has been the subject of several other research reports. Bank of America raised United States Steel from a “neutral” rating to a “buy” rating and raised their price objective for the company from $29.00 to $31.00 in a research report on Tuesday, September 5th. Jefferies Group reissued a “buy” rating and set a $32.00 price objective on shares of United States Steel in a research report on Thursday, August 31st. BMO Capital Markets raised their price objective on United States Steel from $29.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, November 2nd. BidaskClub raised United States Steel from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Finally, Cowen reissued a “hold” rating and set a $24.00 price objective on shares of United States Steel in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. United States Steel has an average rating of “Buy” and a consensus price target of $29.61.

Shares of United States Steel (X) traded up $0.53 during midday trading on Wednesday, reaching $34.37. 11,204,757 shares of the company’s stock were exchanged, compared to its average volume of 16,316,152. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.89 and a quick ratio of 1.23. United States Steel has a twelve month low of $18.55 and a twelve month high of $41.83. The company has a market capitalization of $5,850.07, a PE ratio of 23.38 and a beta of 3.00.

United States Steel (NYSE:X) last issued its earnings results on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. United States Steel had a net margin of 1.05% and a return on equity of 10.27%. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter last year, the business earned $0.40 earnings per share. The business’s revenue was up 20.9% on a year-over-year basis. sell-side analysts forecast that United States Steel will post 1.79 earnings per share for the current year.

In other United States Steel news, SVP David J. Rintoul sold 10,883 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $33.50, for a total value of $364,580.50. Following the sale, the senior vice president now directly owns 61,279 shares of the company’s stock, valued at $2,052,846.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Sara A. Greenstein sold 3,606 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $30.00, for a total value of $108,180.00. Following the completion of the transaction, the senior vice president now owns 51,744 shares in the company, valued at approximately $1,552,320. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,708 shares of company stock worth $1,349,921. Corporate insiders own 1.00% of the company’s stock.

A number of large investors have recently bought and sold shares of X. Global X Management Co. LLC grew its holdings in United States Steel by 221.0% during the 2nd quarter. Global X Management Co. LLC now owns 5,473 shares of the basic materials company’s stock valued at $121,000 after buying an additional 3,768 shares during the last quarter. Arizona State Retirement System raised its holdings in United States Steel by 1.5% during the second quarter. Arizona State Retirement System now owns 73,600 shares of the basic materials company’s stock worth $1,630,000 after purchasing an additional 1,100 shares in the last quarter. First Trust Advisors LP acquired a new position in United States Steel in the second quarter worth approximately $1,908,000. State of Wisconsin Investment Board grew its position in United States Steel by 12.9% during the 2nd quarter. State of Wisconsin Investment Board now owns 34,753 shares of the basic materials company’s stock worth $769,000 after purchasing an additional 3,970 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in United States Steel by 5.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,928,402 shares of the basic materials company’s stock worth $42,695,000 after purchasing an additional 93,579 shares in the last quarter. Institutional investors own 64.22% of the company’s stock.

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About United States Steel

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 (NYSE:X)