ArcelorMittal (NYSE:MT) Stock Rating Reaffirmed by Cowen
Cowen reiterated their hold rating on shares of ArcelorMittal (NYSE:MT) in a research note published on Thursday, January 4th. Cowen currently has a $35.00 price objective on the basic materials company’s stock.
A number of other research firms have also recently commented on MT. Jefferies Group reiterated a buy rating on shares of ArcelorMittal in a research note on Monday, September 18th. ValuEngine cut ArcelorMittal from a strong-buy rating to a buy rating in a research note on Tuesday, September 26th. Zacks Investment Research upgraded ArcelorMittal from a hold rating to a strong-buy rating and set a $29.00 target price on the stock in a research note on Tuesday, September 26th. UBS Group upgraded ArcelorMittal from a neutral rating to a buy rating in a research note on Friday, October 20th. Finally, TheStreet cut ArcelorMittal from a b- rating to a c+ rating in a research note on Friday, November 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $36.89.
ArcelorMittal (NYSE:MT) opened at $37.27 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.44 and a current ratio of 1.21. ArcelorMittal has a 52 week low of $19.59 and a 52 week high of $37.50. The firm has a market capitalization of $37,930.00, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 0.74 and a beta of 2.21.
Institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its stake in ArcelorMittal by 24.9% in the 2nd quarter. Quadrant Capital Group LLC now owns 7,412 shares of the basic materials company’s stock valued at $157,000 after acquiring an additional 1,479 shares during the period. FNY Partners Fund LP bought a new stake in ArcelorMittal in the 4th quarter valued at about $161,000. Rathbone Brothers plc bought a new stake in ArcelorMittal in the 3rd quarter valued at about $202,000. Campbell & CO Investment Adviser LLC bought a new stake in ArcelorMittal in the 3rd quarter valued at about $228,000. Finally, SG Americas Securities LLC bought a new stake in ArcelorMittal in the 3rd quarter valued at about $229,000. Institutional investors and hedge funds own 4.11% of the company’s stock.
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ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.
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