United States Steel (NYSE:X) Stock Rating Upgraded by JPMorgan Chase & Co.

United States Steel (NYSE:X) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Monday, Briefing.com reports. The firm presently has a $42.00 price objective on the basic materials company’s stock, up from their prior price objective of $40.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 34.31% from the company’s previous close.

Several other brokerages also recently commented on X. BNP Paribas upgraded shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Friday. Jefferies Financial Group cut their price target on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday. BMO Capital Markets upgraded shares of United States Steel from a “market perform” rating to an “outperform” rating and upped their price target for the company from $43.00 to $45.00 in a report on Wednesday, June 26th. StockNews.com began coverage on shares of United States Steel in a report on Monday, August 19th. They set a “hold” rating on the stock. Finally, Morgan Stanley upped their target price on shares of United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.89.

United States Steel Stock Up 4.3 %

Shares of X stock opened at $31.27 on Monday. The stock has a market cap of $7.03 billion, a P/E ratio of 9.17 and a beta of 1.88. United States Steel has a 52 week low of $26.92 and a 52 week high of $50.20. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $38.75 and its two-hundred day simple moving average is $39.41.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.72 by $0.12. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.01 billion. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The business’s quarterly revenue was down 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.92 EPS. Analysts predict that United States Steel will post 2.19 EPS for the current fiscal year.

Hedge Funds Weigh In On United States Steel

A number of hedge funds and other institutional investors have recently modified their holdings of X. Gabelli Funds LLC lifted its position in United States Steel by 436.4% during the fourth quarter. Gabelli Funds LLC now owns 214,300 shares of the basic materials company’s stock valued at $10,426,000 after acquiring an additional 174,350 shares during the last quarter. Third Point LLC lifted its position in United States Steel by 15.8% during the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock valued at $267,575,000 after acquiring an additional 750,000 shares during the last quarter. Weiss Asset Management LP purchased a new stake in United States Steel during the fourth quarter valued at approximately $6,408,000. Janus Henderson Group PLC raised its holdings in shares of United States Steel by 94.3% in the first quarter. Janus Henderson Group PLC now owns 211,043 shares of the basic materials company’s stock worth $8,601,000 after buying an additional 102,450 shares during the last quarter. Finally, Kingsview Wealth Management LLC purchased a new position in shares of United States Steel in the fourth quarter worth $219,000. 81.92% of the stock is currently owned by institutional investors.

United States Steel Company Profile

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.