ArcelorMittal (NYSE:MT) Upgraded at Barclays

Barclays upgraded shares of ArcelorMittal (NYSE:MT) from an equal weight rating to an overweight rating in a research note released on Monday, Marketbeat reports.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group initiated coverage on ArcelorMittal in a research note on Thursday, May 9th. They set a neutral rating and a $29.60 price objective for the company. Deutsche Bank Aktiengesellschaft dropped their price target on ArcelorMittal from $30.00 to $29.00 and set a hold rating for the company in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, ArcelorMittal currently has an average rating of Hold and an average price target of $29.30.

ArcelorMittal Trading Up 2.5 %

Shares of MT stock opened at $23.40 on Monday. ArcelorMittal has a 1-year low of $20.52 and a 1-year high of $29.01. The company has a market cap of $18.84 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 0.34 and a beta of 1.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.55 and a quick ratio of 0.65. The stock has a 50 day simple moving average of $22.78 and a 200-day simple moving average of $25.10.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.49). ArcelorMittal had a positive return on equity of 5.94% and a negative net margin of 0.93%. The company had revenue of $16.25 billion for the quarter, compared to analyst estimates of $16.32 billion. During the same quarter in the prior year, the company posted $2.20 earnings per share. The business’s revenue was down 12.7% on a year-over-year basis. On average, equities research analysts expect that ArcelorMittal will post 3.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MT. Principal Securities Inc. acquired a new position in ArcelorMittal during the fourth quarter worth $25,000. GAMMA Investing LLC acquired a new position in shares of ArcelorMittal during the 4th quarter valued at about $30,000. EverSource Wealth Advisors LLC grew its holdings in shares of ArcelorMittal by 84.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,128 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 517 shares during the period. Blue Trust Inc. increased its position in ArcelorMittal by 1,820.0% during the second quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 1,911 shares during the last quarter. Finally, Mather Group LLC. raised its stake in ArcelorMittal by 1,388.6% during the second quarter. Mather Group LLC. now owns 2,218 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 2,069 shares during the period. 9.88% of the stock is currently 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.