United States Steel (NYSE:X) Upgraded at Morgan Stanley

United States Steel (NYSE:X) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Monday, Marketbeat Ratings reports. The firm presently has a $48.00 price target on the basic materials company’s stock, down from their prior price target of $51.00. Morgan Stanley’s price objective would indicate a potential upside of 31.62% from the company’s previous close.

Several other equities analysts have also commented on X. Wolfe Research raised shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a report on Tuesday, April 9th. StockNews.com assumed coverage on shares of United States Steel in a report on Monday, April 29th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. cut their price target on shares of United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday. Finally, BMO Capital Markets cut their price target on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a report on Tuesday, March 19th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $38.00.

United States Steel Stock Performance

NYSE X opened at $36.47 on Monday. United States Steel has a 1 year low of $20.40 and a 1 year high of $50.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14. The stock has a market capitalization of $8.20 billion, a PE ratio of 10.70 and a beta of 2.06. The company’s 50 day simple moving average is $41.48 and its two-hundred day simple moving average is $41.58.

United States Steel (NYSE:X) last posted its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.46. The firm had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $3.73 billion. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the company posted $0.87 EPS. Analysts predict that United States Steel will post 2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On United States Steel

A number of institutional investors and hedge funds have recently modified their holdings of the company. Stratos Wealth Partners LTD. raised its holdings in United States Steel by 12.9% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 20,799 shares of the basic materials company’s stock worth $676,000 after purchasing an additional 2,372 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in United States Steel by 6.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,001 shares of the basic materials company’s stock valued at $2,046,000 after acquiring an additional 4,016 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in United States Steel by 6.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,243,678 shares of the basic materials company’s stock valued at $40,395,000 after acquiring an additional 77,225 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in United States Steel by 49.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 24,633 shares of the basic materials company’s stock valued at $800,000 after acquiring an additional 8,205 shares during the period. Finally, Arete Wealth Advisors LLC bought a new stake in United States Steel during the third quarter valued at about $849,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

About United States Steel

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.