United States Steel (NYSE:X) Given a $46.00 Price Target by Bank of America Analysts

United States Steel (NYSE:X) has been assigned a $46.00 target price by research analysts at Bank of America in a research report issued to clients and investors on Monday, January 8th. The firm currently has a “buy” rating on the basic materials company’s stock. Bank of America’s target price would suggest a potential upside of 19.14% from the company’s current price.

Several other equities analysts have also recently issued reports on X. ValuEngine upgraded shares of United States Steel from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Cowen restated a “hold” rating and set a $40.00 target price on shares of United States Steel in a research note on Thursday, January 4th. Citigroup increased their price objective on shares of United States Steel from $20.00 to $22.00 and gave the stock a “sell” rating in a research note on Friday, September 15th. Axiom Securities upgraded shares of United States Steel from a “sell” rating to a “hold” rating and lowered their price objective for the stock from $41.83 to $18.55 in a research note on Monday, December 11th. Finally, KeyCorp reiterated a “hold” rating on shares of United States Steel in a research note on Friday, November 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. United States Steel has an average rating of “Hold” and an average price target of $31.58.

United States Steel (NYSE X) traded down $2.54 during trading hours on Monday, hitting $38.61. 15,960,000 shares of the stock were exchanged, compared to its average volume of 9,840,000. The stock has a market cap of $6,760.00, a P/E ratio of 56.78, a PEG ratio of 1.56 and a beta of 3.00. The company has a quick ratio of 1.23, a current ratio of 1.89 and a debt-to-equity ratio of 1.03. United States Steel has a 12-month low of $18.55 and a 12-month high of $41.83.

United States Steel (NYSE:X) last released its earnings results on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.25. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.07 billion. United States Steel had a net margin of 1.05% and a return on equity of 10.27%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS. analysts expect that United States Steel will post 1.82 EPS for the current fiscal year.

In other news, VP David J. Rintoul sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $40.00, for a total transaction of $400,000.00. Following the completion of the transaction, the vice president now directly owns 35,809 shares in the company, valued at approximately $1,432,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Colleen M. Darragh sold 1,060 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $37.85, for a total value of $40,121.00. Following the transaction, the vice president now owns 18,076 shares of the company’s stock, valued at $684,176.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,706 shares of company stock valued at $4,653,456. Insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. LMR Partners LLP lifted its position in shares of United States Steel by 154.8% during the fourth quarter. LMR Partners LLP now owns 23,825 shares of the basic materials company’s stock worth $838,000 after purchasing an additional 14,474 shares during the last quarter. Cigna Investments Inc. New bought a new stake in shares of United States Steel during the fourth quarter worth $220,000. Moloney Securities Asset Management LLC bought a new stake in shares of United States Steel during the fourth quarter worth $231,000. James Investment Research Inc. bought a new stake in shares of United States Steel during the fourth quarter worth $2,591,000. Finally, Augustine Asset Management Inc. bought a new stake in shares of United States Steel during the fourth quarter worth $1,730,000. Institutional investors own 64.21% of the company’s stock.

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About United States Steel

United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).

Analyst Recommendations for United States Steel (NYSE:X)

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