Longbow Research Upgrades United States Steel (NYSE:X) to Buy

United States Steel (NYSE:X) was upgraded by Longbow Research from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, December 20th, MarketBeat.com reports.

X has been the subject of a number of other reports. BidaskClub upgraded United States Steel from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Jefferies Group reiterated a “buy” rating and issued a $32.00 price objective on shares of United States Steel in a research report on Thursday, August 31st. Cowen reiterated a “hold” rating and issued a $24.00 price objective on shares of United States Steel in a research report on Friday, September 1st. Bank of America upgraded United States Steel from a “neutral” rating to a “buy” rating and raised their price target for the stock from $29.00 to $31.00 in a research report on Tuesday, September 5th. Finally, Standpoint Research lowered United States Steel from a “buy” rating to a “reduce” rating in a research report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $31.14.

Shares of United States Steel (X) traded down $0.38 during mid-day trading on Wednesday, hitting $39.14. The stock had a trading volume of 8,590,980 shares, compared to its average volume of 10,320,000. The firm has a market cap of $6,850.00, a PE ratio of 57.56, a PEG ratio of 1.69 and a beta of 3.00. United States Steel has a fifty-two week low of $18.55 and a fifty-two week high of $41.83. 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 results on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.25. United States Steel had a return on equity of 10.27% and a net margin of 1.05%. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter in the prior year, the firm posted $0.40 EPS. United States Steel’s quarterly revenue was up 20.9% compared to the same quarter last year. research analysts expect that United States Steel will post 1.8 EPS for the current year.

In other United States Steel news, VP Colleen M. Darragh sold 9,700 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $30.00, for a total transaction of $291,000.00. Following the transaction, the vice president now owns 19,136 shares of the company’s stock, valued at $574,080. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Sara A. Greenstein sold 3,606 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $30.00, for a total value of $108,180.00. Following the transaction, the senior vice president now directly owns 51,744 shares in the company, valued at approximately $1,552,320. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,698 shares of company stock worth $2,535,286. 1.00% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Grassi Investment Management boosted its holdings in United States Steel by 10.9% in 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 in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in United States Steel by 6.5% in 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 in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in United States Steel by 28.5% in 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 in the last quarter. RWC Asset Management LLP boosted its holdings in United States Steel by 21.7% in 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 in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in United States Steel by 1.9% in 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 in the last quarter. 64.22% of the stock is currently owned by hedge funds and other 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).

Analyst Recommendations for United States Steel (NYSE:X)

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