United States Steel (X) Price Target Cut to $42.00 by Analysts at Morgan Stanley

United States Steel (NYSE:X) had its target price dropped by equities research analysts at Morgan Stanley from $46.00 to $42.00 in a research report issued on Tuesday. The brokerage currently has an “overweight” rating on the basic materials company’s stock. Morgan Stanley’s target price would suggest a potential upside of 22.16% from the company’s current price.

A number of other research firms have also weighed in on X. Vertical Group began coverage on shares of United States Steel in a research note on Tuesday, January 30th. They issued a “sell” rating and a $25.00 price objective for the company. Credit Suisse Group upped their price objective on shares of United States Steel from $34.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Citigroup raised shares of United States Steel from a “sell” rating to a “neutral” rating in a research note on Monday, January 22nd. Bank of America set a $46.00 price objective on shares of United States Steel and gave the stock a “buy” rating in a research note on Monday, January 8th. Finally, Cowen reaffirmed a “hold” rating and issued a $40.00 price objective on shares of United States Steel in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. United States Steel currently has a consensus rating of “Hold” and a consensus target price of $32.47.

United States Steel (NYSE X) traded up $0.36 during midday trading on Tuesday, hitting $34.38. 7,342,148 shares of the stock were exchanged, compared to its average volume of 11,352,802. The company has a current ratio of 1.75, a quick ratio of 1.11 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $6,030.00, a PE ratio of 15.77, a PEG ratio of 1.32 and a beta of 3.08. United States Steel has a 12-month low of $18.55 and a 12-month high of $41.83.

United States Steel (NYSE:X) last posted its quarterly earnings results on Wednesday, January 31st. The basic materials company reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.09. The firm had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.10 billion. United States Steel had a net margin of 3.16% and a return on equity of 12.56%. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. research analysts forecast that United States Steel will post 3.28 earnings per share for the current year.

In related news, insider Richard Fruehauf sold 5,959 shares of the 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 $178,770.00. Following the transaction, the insider now owns 7,960 shares in the company, valued at approximately $238,800. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO David B. Burritt sold 6,936 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $39.95, for a total transaction of $277,093.20. Following the sale, the chief executive officer now directly owns 179,567 shares in the company, valued at approximately $7,173,701.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,706 shares of company stock worth $4,653,456. 1.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of X. Amerigo Asset Management purchased a new position in shares of United States Steel during the 3rd quarter valued at approximately $158,558,000. State Street Corp lifted its position in shares of United States Steel by 6.2% during the 2nd quarter. State Street Corp now owns 5,889,434 shares of the basic materials company’s stock valued at $130,394,000 after buying an additional 341,591 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of United States Steel by 7.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,245,149 shares of the basic materials company’s stock valued at $71,851,000 after buying an additional 236,714 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of United States Steel by 2.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,970,333 shares of the basic materials company’s stock valued at $50,558,000 after buying an additional 41,931 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of United States Steel by 8.3% during the 3rd quarter. Jennison Associates LLC now owns 1,016,750 shares of the basic materials company’s stock valued at $26,090,000 after buying an additional 77,905 shares in the last quarter. 64.18% of the stock is currently owned by institutional investors and hedge funds.

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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)

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