United States Steel (NYSE:X) Price Target Lowered to $40.00 at Jefferies Financial Group

United States Steel (NYSE:X) had its target price lowered by equities researchers at Jefferies Financial Group from $45.00 to $40.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 31.28% from the company’s current price.

Other analysts also recently issued reports about the stock. Glj Research upgraded shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective on the stock in a research report on Monday, September 9th. JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $42.00 in a research report on Monday, September 9th. Finally, BMO Capital Markets cut their target price on United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.22.

United States Steel Stock Performance

Shares of NYSE X opened at $30.47 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $36.62 and its two-hundred day moving average price is $37.34. United States Steel has a 52-week low of $26.92 and a 52-week high of $48.85. The stock has a market capitalization of $6.86 billion, a P/E ratio of 20.05 and a beta of 1.88.

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

Institutional Investors Weigh In On United States Steel

Hedge funds and other institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA boosted its stake in shares of United States Steel by 4,305.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock worth $137,379,000 after acquiring an additional 3,551,870 shares in the last quarter. Castle Hook Partners LP purchased a new position in United States Steel during the 3rd quarter valued at about $91,712,000. KGH Ltd increased its stake in United States Steel by 68.2% in the 2nd quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock valued at $160,839,000 after buying an additional 1,724,670 shares during the period. Holocene Advisors LP purchased a new stake in United States Steel in the 3rd quarter worth approximately $51,620,000. Finally, Forest Avenue Capital Management LP acquired a new position in shares of United States Steel in the second quarter worth $22,770,000. 81.92% of the stock is currently owned by institutional investors.

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.