United States Steel (X) Cut to “Hold” at Vetr

United States Steel (NYSE:X) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Monday. They currently have a $40.74 price objective on the basic materials company’s stock. Vetr‘s price objective suggests a potential upside of 5.76% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of United States Steel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Vertical Group cut shares of United States Steel from a “hold” rating to a “sell” rating in a research note on Tuesday, March 13th. JPMorgan Chase & Co. upped their price objective on shares of United States Steel from $48.00 to $69.00 in a research note on Friday, March 9th. Credit Suisse Group upped their price objective on shares of United States Steel from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, March 8th. Finally, Bank of America cut shares of United States Steel from a “buy” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research note on Friday, March 2nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. United States Steel currently has an average rating of “Hold” and a consensus price target of $37.57.

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Shares of United States Steel stock opened at $38.52 on Monday. United States Steel has a one year low of $18.55 and a one year high of $47.64. The company has a market cap of $7,028.29, a PE ratio of 17.67, a PEG ratio of 1.20 and a beta of 2.79. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.11 and a current ratio of 1.75.

United States Steel (NYSE:X) last announced its quarterly earnings data on Wednesday, January 31st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.09. United States Steel had a net margin of 3.16% and a return on equity of 12.56%. The company had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the company earned $0.27 EPS. United States Steel’s revenue was up 18.2% compared to the same quarter last year. research analysts forecast that United States Steel will post 4.16 EPS for the current fiscal year.

In other United States Steel news, VP Sara A. Greenstein sold 2,613 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $45.33, for a total value of $118,447.29. Following the transaction, the vice president now directly owns 51,250 shares in the company, valued at approximately $2,323,162.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David B. Burritt sold 6,936 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $39.95, for a total transaction of $277,093.20. Following the completion of the transaction, the chief executive officer now owns 179,567 shares in the company, valued at $7,173,701.65. The disclosure for this sale can be found here. Insiders sold a total of 147,885 shares of company stock worth $5,927,600 over the last quarter. 1.01% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of X. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of United States Steel by 12,104.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 145,251 shares of the basic materials company’s stock worth $3,727,000 after acquiring an additional 146,461 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of United States Steel in the 3rd quarter worth approximately $426,000. Canada Pension Plan Investment Board lifted its holdings in shares of United States Steel by 63.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 39,300 shares of the basic materials company’s stock worth $1,008,000 after acquiring an additional 15,200 shares during the last quarter. Stevens Capital Management LP acquired a new position in shares of United States Steel in the 3rd quarter worth approximately $275,000. Finally, Principal Financial Group Inc. lifted its holdings in United States Steel by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 743,908 shares of the basic materials company’s stock worth $19,088,000 after buying an additional 4,827 shares in the last quarter. Hedge funds and other institutional investors own 68.26% of the company’s stock.

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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).

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for United States Steel (NYSE:X)

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