United States Steel’s (X) Equal Weight Rating Reaffirmed at Morgan Stanley

United States Steel (NYSE:X)‘s stock had its “equal weight” rating reaffirmed by investment analysts at Morgan Stanley in a note issued to investors on Monday, MarketBeat Ratings reports. They presently have a $39.00 price objective on the basic materials company’s stock. Morgan Stanley’s target price points to a potential upside of 3.38% from the stock’s current price.

X has been the topic of several other reports. Bank of America initiated coverage on shares of United States Steel in a report on Monday, January 6th. They set a “neutral” rating and a $35.00 target price on the stock. Jefferies Financial Group decreased their price objective on United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a report on Monday, January 6th. BMO Capital Markets dropped their price objective on United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of United States Steel from $44.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, United States Steel presently has an average rating of “Moderate Buy” and a consensus price target of $39.82.

United States Steel Price Performance

Shares of X stock opened at $37.72 on Monday. The stock’s fifty day moving average is $35.20 and its 200-day moving average is $37.01. The stock has a market capitalization of $8.49 billion, a PE ratio of 25.32 and a beta of 1.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55. United States Steel has a 52 week low of $26.92 and a 52 week high of $48.13.

United States Steel (NYSE:X) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. Equities research analysts expect that United States Steel will post 1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On United States Steel

Hedge funds have recently modified their holdings of the business. IFP Advisors Inc lifted its holdings in United States Steel by 81.8% during the 4th quarter. IFP Advisors Inc now owns 1,405 shares of the basic materials company’s stock worth $48,000 after buying an additional 632 shares during the period. Sigma Planning Corp increased its position in shares of United States Steel by 68.1% during the fourth quarter. Sigma Planning Corp now owns 24,639 shares of the basic materials company’s stock worth $837,000 after buying an additional 9,979 shares during the period. Global Retirement Partners LLC boosted its position in United States Steel by 126.2% during the fourth quarter. Global Retirement Partners LLC now owns 9,025 shares of the basic materials company’s stock valued at $307,000 after acquiring an additional 5,035 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of United States Steel by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 6,880 shares of the basic materials company’s stock valued at $234,000 after purchasing an additional 366 shares during the period. Finally, Allworth Financial LP increased its holdings in United States Steel by 149.4% in the fourth quarter. Allworth Financial LP now owns 1,337 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 801 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Company Profile

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.