United States Steel (X) PT Set at $46.00 by Bank of America

United States Steel (NYSE:X) has been given a $46.00 target price by equities research analysts at Bank of America in a report released on Monday, January 8th. The firm presently has a “buy” rating on the basic materials company’s stock. Bank of America’s price objective points to a potential upside of 18.96% from the stock’s current price.

X has been the topic of several other reports. ValuEngine raised United States Steel from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Jefferies Group reaffirmed a “buy” rating on shares of United States Steel in a research report on Monday, September 18th. Longbow Research raised United States Steel from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th. Cowen reaffirmed a “hold” rating and issued a $40.00 target price on shares of United States Steel in a research report on Thursday, January 4th. Finally, Axiom Securities raised United States Steel from a “sell” rating to a “hold” rating and dropped their target price for the stock from $41.83 to $18.55 in a research report on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. United States Steel presently has an average rating of “Buy” and an average target price of $31.14.

United States Steel (X) traded down $0.47 during trading hours on Monday, reaching $38.67. The company had a trading volume of 10,890,000 shares, compared to its average volume of 10,330,000. The firm has a market capitalization of $6,770.00, a price-to-earnings ratio of 56.87, a price-to-earnings-growth ratio of 1.60 and a beta of 3.00. United States Steel has a 52-week low of $18.55 and a 52-week high of $41.83. 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 (NYSE:X) last posted its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.25. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.07 billion. United States Steel had a return on equity of 10.27% and a net margin of 1.05%. United States Steel’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. sell-side analysts anticipate that United States Steel will post 1.84 earnings per share for the current year.

In related news, insider Richard Fruehauf sold 5,959 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $30.00, for a total transaction of $178,770.00. Following the completion of the sale, the insider now owns 7,960 shares in the company, valued at approximately $238,800. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP David J. Rintoul sold 17,640 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $36.57, for a total value of $645,094.80. Following the sale, the senior vice president now owns 63,449 shares of the company’s stock, valued at approximately $2,320,329.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,698 shares of company stock worth $2,535,286. 1.00% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Grassi Investment Management boosted its stake in United States Steel by 10.9% during the 4th quarter. Grassi Investment Management now owns 29,450 shares of the basic materials company’s stock valued at $1,036,000 after purchasing an additional 2,900 shares during the period. Parametric Portfolio Associates LLC boosted its stake in United States Steel by 6.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 790,965 shares of the basic materials company’s stock valued at $20,296,000 after purchasing an additional 48,143 shares during the period. Public Employees Retirement System of Ohio boosted its stake in United States Steel by 28.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 95,449 shares of the basic materials company’s stock valued at $2,449,000 after purchasing an additional 21,166 shares during the period. RWC Asset Management LLP boosted its stake in United States Steel by 21.7% during the 3rd quarter. RWC Asset Management LLP now owns 395,782 shares of the basic materials company’s stock valued at $10,156,000 after purchasing an additional 70,577 shares during the period. Finally, California Public Employees Retirement System boosted its stake in United States Steel by 1.9% during the 3rd quarter. California Public Employees Retirement System now owns 373,325 shares of the basic materials company’s stock valued at $9,580,000 after purchasing an additional 7,025 shares during the period. Hedge funds and other 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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