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.
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.
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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