United States Steel (NYSE:X) Rating Increased to Buy at Argus

United States Steel (NYSE:X) was upgraded by investment analysts at Argus from a “hold” rating to a “buy” rating in a report issued on Thursday, The Fly reports.

Several other research analysts also recently issued reports on X. The Goldman Sachs Group downgraded United States Steel from a “neutral” rating to a “sell” rating and cut their price target for the stock from $34.00 to $21.00 in a research note on Wednesday, October 6th. Deutsche Bank Aktiengesellschaft raised United States Steel to a “buy” rating and lifted their price target for the stock from $38.00 to $50.00 in a research note on Wednesday, September 15th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $41.00 price target on shares of United States Steel in a research note on Wednesday, June 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $32.22.

Shares of NYSE X opened at $21.45 on Thursday. The firm has a market capitalization of $5.79 billion, a P/E ratio of 7.06 and a beta of 2.12. United States Steel has a one year low of $8.28 and a one year high of $30.57. The company’s fifty day moving average is $24.96 and its two-hundred day moving average is $24.62. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.84 and a current ratio of 1.27.

United States Steel (NYSE:X) last issued its earnings results on Thursday, July 29th. The basic materials company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.08 by $0.29. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.70 billion. United States Steel had a net margin of 6.75% and a return on equity of 20.37%. During the same period in the previous year, the firm earned ($2.67) EPS. On average, sell-side analysts forecast that United States Steel will post 11.87 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of X. Edge Wealth Management LLC boosted its holdings in United States Steel by 270.3% in the 3rd quarter. Edge Wealth Management LLC now owns 1,370 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 1,000 shares during the period. Grassi Investment Management boosted its holdings in United States Steel by 66.4% in the 3rd quarter. Grassi Investment Management now owns 141,750 shares of the basic materials company’s stock worth $3,114,000 after acquiring an additional 56,550 shares during the period. Fruth Investment Management boosted its holdings in United States Steel by 4.7% in the 3rd quarter. Fruth Investment Management now owns 33,375 shares of the basic materials company’s stock worth $733,000 after acquiring an additional 1,500 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings in United States Steel by 51.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 5,301 shares of the basic materials company’s stock worth $116,000 after acquiring an additional 1,801 shares during the period. Finally, Wedbush Securities Inc. boosted its holdings in United States Steel by 5.8% in the 3rd quarter. Wedbush Securities Inc. now owns 17,405 shares of the basic materials company’s stock worth $382,000 after acquiring an additional 952 shares during the period. Institutional investors and hedge funds own 67.32% of the company’s stock.

About United States Steel

United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following business segments: Flat-Rolled Products, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and production facilities that manufacture steel slabs, rounds, strip mill plates, sheets, tin mill, iron ore, and coke.

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