Research analysts at StockNews.com assumed coverage on shares of United States Steel (NYSE:X – Get Free Report) in a research report issued on Tuesday. The brokerage set a “hold” rating on the basic materials company’s stock.
Several other research analysts have also issued reports on X. JPMorgan Chase & Co. decreased their price target on shares of United States Steel from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday. Morgan Stanley upgraded shares of United States Steel from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $51.00 to $48.00 in a report on Monday. BMO Capital Markets cut their price target on United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 19th. Finally, Wolfe Research raised United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a research note on Tuesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, United States Steel has a consensus rating of “Hold” and a consensus target price of $38.00.
United States Steel Stock Performance
Institutional Trading of United States Steel
A number of institutional investors have recently made changes to their positions in the stock. Third Point LLC purchased a new stake in United States Steel in the third quarter worth approximately $154,280,000. Norges Bank purchased a new position in shares of United States Steel in the 4th quarter worth $200,952,000. KRYGER CAPITAL Ltd bought a new stake in shares of United States Steel in the fourth quarter worth $95,529,000. Laurion Capital Management LP purchased a new stake in United States Steel during the third quarter valued at $50,912,000. Finally, Segantii Capital Management Ltd purchased a new position in United States Steel in the fourth quarter worth about $68,840,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.
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.
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