ArcelorMittal (NYSE:MT) Downgraded by Jefferies Financial Group to Hold

ArcelorMittal (NYSE:MT) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Marketbeat Ratings reports. They currently have a $36.20 target price on the basic materials company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 21.70% from the stock’s current price.

Separately, Morgan Stanley downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.43.

ArcelorMittal Stock Down 3.3 %

ArcelorMittal stock opened at $29.75 on Wednesday. ArcelorMittal has a fifty-two week low of $20.52 and a fifty-two week high of $34.90. The company has a market cap of $24.37 billion, a PE ratio of 18.03, a PEG ratio of 0.14 and a beta of 1.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. The business’s 50-day simple moving average is $28.49 and its two-hundred day simple moving average is $25.70.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). ArcelorMittal had a return on equity of 4.31% and a net margin of 2.14%. Equities analysts anticipate that ArcelorMittal will post 3.72 EPS for the current year.

Institutional Trading of ArcelorMittal

A number of institutional investors have recently made changes to their positions in MT. Geneos Wealth Management Inc. raised its stake in ArcelorMittal by 89.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 536 shares during the period. GAMMA Investing LLC raised its stake in shares of ArcelorMittal by 68.5% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 595 shares during the period. US Bancorp DE boosted its position in shares of ArcelorMittal by 5.0% during the 4th quarter. US Bancorp DE now owns 15,085 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 717 shares during the period. Dorsey & Whitney Trust CO LLC increased its holdings in ArcelorMittal by 9.1% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,545 shares of the basic materials company’s stock valued at $221,000 after purchasing an additional 797 shares during the last quarter. Finally, United Capital Financial Advisors LLC boosted its position in shares of ArcelorMittal by 11.5% during the fourth quarter. United Capital Financial Advisors LLC now owns 10,940 shares of the basic materials company’s stock worth $253,000 after buying an additional 1,129 shares during the period. 9.29% of the stock is owned by institutional investors and hedge funds.

ArcelorMittal Company Profile

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.