United States Steel (NYSE:X) Given a $23.00 Price Target by UBS Group Analysts

United States Steel (NYSE:XGet Rating) has been assigned a $23.00 price objective by research analysts at UBS Group in a research report issued on Monday, Stock Target Advisor reports. UBS Group’s price objective indicates a potential upside of 15.64% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley raised shares of United States Steel from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $21.00 to $31.00 in a research report on Sunday, March 6th. The Goldman Sachs Group lowered their price target on shares of United States Steel from $36.00 to $22.00 and set a “sell” rating for the company in a research report on Tuesday, May 31st. JPMorgan Chase & Co. reduced their price objective on shares of United States Steel from $34.00 to $28.00 and set an “underweight” rating for the company in a research note on Tuesday, June 14th. BMO Capital Markets reduced their price objective on shares of United States Steel from $30.00 to $23.00 in a research note on Friday. Finally, Credit Suisse Group reduced their price objective on shares of United States Steel from $49.00 to $44.00 and set an “outperform” rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, United States Steel presently has an average rating of “Hold” and an average price target of $30.00.

Shares of NYSE:X traded up $0.31 on Monday, hitting $19.89. The company had a trading volume of 1,325,058 shares, compared to its average volume of 17,236,699. The firm’s 50-day simple moving average is $27.73 and its two-hundred day simple moving average is $27.11. United States Steel has a 1 year low of $17.98 and a 1 year high of $39.25. The company has a quick ratio of 1.30, a current ratio of 1.90 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 1.15 and a beta of 2.01.

United States Steel (NYSE:XGet Rating) last posted its earnings results on Thursday, April 28th. The basic materials company reported $3.05 EPS for the quarter, topping the consensus estimate of $3.00 by $0.05. United States Steel had a net margin of 23.01% and a return on equity of 54.02%. The firm had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same period last year, the company posted $1.08 EPS. The company’s quarterly revenue was up 42.8% compared to the same quarter last year. Equities research analysts anticipate that United States Steel will post 10.98 EPS for the current year.

In other news, CAO Manpreet Grewal sold 1,359 shares of the business’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $37.71, for a total value of $51,247.89. Following the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $1,104,299.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Duane D. Holloway sold 40,346 shares of the business’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $37.71, for a total transaction of $1,521,447.66. Following the completion of the transaction, the senior vice president now directly owns 72,419 shares in the company, valued at approximately $2,730,920.49. The disclosure for this sale can be found here. Insiders have sold 113,344 shares of company stock worth $4,252,827 in the last ninety days. Insiders own 1.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in X. Wellington Management Group LLP increased its position in United States Steel by 318.4% in the third quarter. Wellington Management Group LLP now owns 255,379 shares of the basic materials company’s stock worth $5,611,000 after purchasing an additional 194,346 shares during the last quarter. Cannell & Co. bought a new stake in United States Steel in the fourth quarter worth $633,000. CIBC World Markets Inc. increased its position in United States Steel by 5.7% in the fourth quarter. CIBC World Markets Inc. now owns 116,331 shares of the basic materials company’s stock worth $2,770,000 after purchasing an additional 6,291 shares during the last quarter. Main Street Financial Solutions LLC increased its position in United States Steel by 5.4% in the fourth quarter. Main Street Financial Solutions LLC now owns 9,739 shares of the basic materials company’s stock worth $232,000 after purchasing an additional 500 shares during the last quarter. Finally, South Dakota Investment Council increased its position in United States Steel by 23.6% in the fourth quarter. South Dakota Investment Council now owns 357,310 shares of the basic materials company’s stock worth $8,508,000 after purchasing an additional 68,220 shares during the last quarter. 72.56% of the stock is currently owned by hedge funds and other institutional investors.

About United States Steel (Get Rating)

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

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