BMO Capital Markets Issues Positive Forecast for United States Steel (NYSE:X) Stock Price

United States Steel (NYSE:X) had its price target upped by analysts at BMO Capital Markets from $40.00 to $45.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 9.57% from the company’s current price.

X has been the subject of several other reports. JPMorgan Chase & Co. upped their price objective on United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Jefferies Financial Group reduced their price target on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Morgan Stanley upped their price objective on shares of United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, March 7th. Finally, Bank of America started coverage on shares of United States Steel in a research report on Monday, January 6th. They issued a “neutral” rating and a $35.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.32.

United States Steel Stock Down 1.3 %

Shares of X opened at $41.07 on Friday. The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. United States Steel has a 12 month low of $26.92 and a 12 month high of $43.35. The firm’s 50 day moving average is $37.75 and its 200-day moving average is $36.75. The stock has a market capitalization of $9.25 billion, a PE ratio of 27.56, a P/E/G ratio of 1.53 and a beta of 1.86.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. Equities research analysts forecast that United States Steel will post 1.43 EPS for the current year.

Institutional Investors Weigh In On United States Steel

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of United States Steel in the fourth quarter worth approximately $130,731,000. Castle Hook Partners LP acquired a new position in shares of United States Steel in the 3rd quarter worth approximately $91,712,000. Forest Avenue Capital Management LP bought a new stake in shares of United States Steel in the 4th quarter valued at $50,795,000. Holocene Advisors LP acquired a new stake in shares of United States Steel during the third quarter worth $51,620,000. Finally, NWI Management LP acquired a new stake in shares of United States Steel during the fourth quarter worth $48,946,000. 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.