United States Steel (NYSE:X) Now Covered by Analysts at Bank of America

Investment analysts at Bank of America began coverage on shares of United States Steel (NYSE:X) in a research report issued on Monday. The brokerage set a “neutral” rating and a $35.00 price target on the basic materials company’s stock. Bank of America‘s price target indicates a potential upside of 10.24% from the stock’s current price.

X has been the subject of a number of other research reports. BMO Capital Markets decreased their price objective on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Jefferies Financial Group decreased their price target on United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday. JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $42.00 in a research note on Monday, September 9th. Finally, Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective for the company in a research report on Monday, September 9th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.32.

United States Steel Trading Up 4.2 %

Shares of NYSE:X traded up $1.28 during midday trading on Monday, hitting $31.75. 5,386,644 shares of the stock traded hands, compared to its average volume of 14,192,878. The business’s 50 day moving average is $36.62 and its two-hundred day moving average is $37.34. United States Steel has a one year low of $26.92 and a one year high of $48.85. The stock has a market capitalization of $7.15 billion, a PE ratio of 20.89 and a beta of 1.88. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35.

United States Steel (NYSE:X) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.41 by $0.15. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.77 billion. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The company’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.36 EPS. As a group, research analysts forecast that United States Steel will post 2.17 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC grew its stake in United States Steel by 0.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,880 shares of the basic materials company’s stock valued at $1,016,000 after acquiring an additional 241 shares in the last quarter. Rakuten Securities Inc. grew its holdings in United States Steel by 9.2% during the 3rd quarter. Rakuten Securities Inc. now owns 3,328 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 279 shares during the last quarter. Founders Capital Management grew its position in shares of United States Steel by 9.4% during the 3rd quarter. Founders Capital Management now owns 3,500 shares of the basic materials company’s stock worth $124,000 after buying an additional 300 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of United States Steel by 0.7% in the 3rd quarter. D.A. Davidson & CO. now owns 44,450 shares of the basic materials company’s stock worth $1,570,000 after purchasing an additional 301 shares during the period. Finally, Arkadios Wealth Advisors raised its holdings in United States Steel by 1.7% in the third quarter. Arkadios Wealth Advisors now owns 18,635 shares of the basic materials company’s stock worth $658,000 after purchasing an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

About United States Steel

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.