Analysts Set ArcelorMittal (NYSE:MT) Target Price at $42.73

ArcelorMittal (NYSE:MT) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $42.7250.

Several brokerages recently issued reports on MT. Oddo Bhf upgraded ArcelorMittal from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 14th. UBS Group cut shares of ArcelorMittal from a “buy” rating to a “neutral” rating in a report on Monday, November 17th. JPMorgan Chase & Co. raised shares of ArcelorMittal from a “neutral” rating to an “overweight” rating in a report on Friday, November 7th. Wells Fargo & Company boosted their price objective on shares of ArcelorMittal from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Santander upgraded shares of ArcelorMittal from a “neutral” rating to an “outperform” rating in a research note on Thursday.

ArcelorMittal Stock Up 1.3%

Shares of ArcelorMittal stock opened at $62.09 on Friday. The business has a 50-day moving average price of $48.75 and a 200 day moving average price of $40.81. ArcelorMittal has a fifty-two week low of $23.19 and a fifty-two week high of $62.22. The firm has a market cap of $48.12 billion, a P/E ratio of 15.14, a P/E/G ratio of 0.61 and a beta of 1.52. The company has a quick ratio of 0.53, a current ratio of 1.36 and a debt-to-equity ratio of 0.19.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, February 5th. The basic materials company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.30. ArcelorMittal had a return on equity of 5.27% and a net margin of 5.14%.The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.56 billion. During the same quarter last year, the business posted $0.52 EPS. ArcelorMittal’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

Institutional Trading of ArcelorMittal

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC grew its stake in ArcelorMittal by 75.0% during the 1st quarter. AQR Capital Management LLC now owns 34,038 shares of the basic materials company’s stock worth $982,000 after buying an additional 14,593 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in ArcelorMittal by 44.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock valued at $47,000 after buying an additional 501 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of ArcelorMittal by 4.5% during the second quarter. Janney Montgomery Scott LLC now owns 7,359 shares of the basic materials company’s stock valued at $232,000 after acquiring an additional 318 shares during the period. Callan Family Office LLC bought a new position in shares of ArcelorMittal during the second quarter worth about $315,000. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of ArcelorMittal by 9.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 71,916 shares of the basic materials company’s stock worth $2,272,000 after acquiring an additional 5,932 shares during the period. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Company Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.