United States Steel’s (X) “Hold” Rating Reaffirmed at Cowen
United States Steel (NYSE:X)‘s stock had its “hold” rating reaffirmed by Cowen in a report released on Thursday. They presently have a $40.00 price target on the basic materials company’s stock. Cowen’s target price suggests a potential upside of 5.62% from the company’s current price.
A number of other analysts have also recently commented on X. Macquarie started coverage on United States Steel in a research report on Wednesday, September 6th. They set an “outperform” rating and a $31.00 price target for the company. BMO Capital Markets reissued a “market perform” rating on shares of United States Steel in a report on Friday, September 8th. Citigroup boosted their price objective on United States Steel from $20.00 to $22.00 and gave the company a “sell” rating in a report on Friday, September 15th. Jefferies Group reissued a “buy” rating on shares of United States Steel in a report on Monday, September 18th. Finally, Longbow Research reissued a “neutral” rating on shares of United States Steel in a report on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $30.32.
Shares of United States Steel (NYSE X) traded up $0.40 on Thursday, reaching $37.87. The company’s stock had a trading volume of 9,990,000 shares, compared to its average volume of 9,680,000. United States Steel has a 12 month low of $18.55 and a 12 month high of $41.83. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 1.03. The firm has a market cap of $6,630.00, a PE ratio of 55.69 and a beta of 3.00.
In related news, insider Richard Fruehauf sold 5,959 shares of United States Steel stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $30.00, for a total value of $178,770.00. Following the completion of the transaction, the insider now owns 7,960 shares in the company, valued at approximately $238,800. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Colleen M. Darragh sold 1,060 shares of United States Steel stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $37.85, for a total value of $40,121.00. Following the completion of the transaction, the vice president now owns 18,076 shares of the company’s stock, valued at approximately $684,176.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,698 shares of company stock valued at $2,535,286. 1.00% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in X. Enterprise Financial Services Corp purchased a new stake in United States Steel during the 3rd quarter worth approximately $120,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in United States Steel by 10.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,975 shares of the basic materials company’s stock worth $154,000 after buying an additional 674 shares in the last quarter. NJ State Employees Deferred Compensation Plan purchased a new stake in United States Steel during the 3rd quarter worth approximately $205,000. ARP Americas LLC purchased a new stake in United States Steel during the 3rd quarter worth approximately $223,000. Finally, Advisors Asset Management Inc. increased its stake in United States Steel by 32.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 8,813 shares of the basic materials company’s stock worth $226,000 after buying an additional 2,148 shares in the last quarter. Hedge funds and other institutional investors own 64.22% of the company’s stock.
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United States Steel Company Profile
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).
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