United States Steel (X) Stock Rating Lowered by ValuEngine

United States Steel (NYSE:X) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday, November 9th.

Several other analysts have also recently issued reports on the stock. Longbow Research cut shares of United States Steel from a “buy” rating to a “neutral” rating in a report on Thursday, July 27th. Argus upped their price target on shares of United States Steel to $1.48 and gave the company a “buy” rating in a report on Friday, July 28th. Cowen upped their price target on shares of United States Steel from $21.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, July 27th. Macquarie began coverage on shares of United States Steel in a research note on Wednesday, September 6th. They set an “outperform” rating and a $31.00 target price for the company. Finally, Bank of America upgraded shares of United States Steel from a “neutral” rating to a “buy” rating and boosted their target price for the company from $29.00 to $31.00 in a research note on Tuesday, September 5th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $29.34.

Shares of United States Steel (X) traded down $0.19 during midday trading on Thursday, hitting $28.61. 10,585,837 shares of the stock were exchanged, compared to its average volume of 16,683,594. United States Steel has a 1-year low of $18.55 and a 1-year high of $41.83. The stock has a market capitalization of $5,040.00, a P/E ratio of 20.43 and a beta of 2.96. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 1.03.

United States Steel (NYSE:X) last released its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. United States Steel had a net margin of 1.05% and a return on equity of 10.27%. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same period in the previous year, the firm earned $0.40 earnings per share. United States Steel’s revenue for the quarter was up 20.9% on a year-over-year basis. analysts expect that United States Steel will post 1.8 EPS for the current fiscal year.

In other news, Director Murry Gerber acquired 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were purchased at an average price of $26.89 per share, for a total transaction of $107,560.00. Following the completion of the acquisition, the director now owns 168,457 shares of the company’s stock, valued at approximately $4,529,808.73. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Bradley purchased 22,835 shares of the stock in a transaction on Wednesday, September 6th. The shares were bought at an average price of $27.62 per share, for a total transaction of $630,702.70. Following the acquisition, the chief financial officer now owns 30,415 shares of the company’s stock, valued at $840,062.30. The disclosure for this purchase can be found here. Insiders bought 64,597 shares of company stock valued at $1,764,452 over the last three months. 1.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Enterprise Financial Services Corp bought a new position in shares of United States Steel during the third quarter valued at $120,000. Global X Management Co. LLC increased its stake in shares of United States Steel by 221.0% in the second quarter. Global X Management Co. LLC now owns 5,473 shares of the basic materials company’s stock valued at $121,000 after buying an additional 3,768 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of United States Steel by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,975 shares of the basic materials company’s stock valued at $154,000 after buying an additional 674 shares in the last quarter. NJ State Employees Deferred Compensation Plan acquired a new stake in United States Steel in the third quarter worth about $205,000. Finally, Sigma Planning Corp increased its position in United States Steel by 21.3% in the second quarter. Sigma Planning Corp now owns 9,662 shares of the basic materials company’s stock worth $214,000 after purchasing an additional 1,696 shares during the period. 64.27% of the stock is owned by institutional investors.

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United States Steel Company Profile

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).

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Analyst Recommendations for United States Steel (NYSE:X)

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