United States Steel (X) Rating Reiterated by Cowen
United States Steel (NYSE:X)‘s stock had its “hold” rating reaffirmed by Cowen in a report issued on Thursday, January 4th. They currently have a $40.00 price objective on the basic materials company’s stock. Cowen’s price target would suggest a potential downside of 2.79% from the company’s current price.
X has been the subject of a number of other research reports. Macquarie started coverage on United States Steel in a research note on Wednesday, September 6th. They issued an “outperform” rating and a $31.00 target price for the company. ValuEngine upgraded United States Steel from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Bank of America set a $32.00 price target on United States Steel and gave the stock a “buy” rating in a research report on Friday, October 20th. BMO Capital Markets reaffirmed a “market perform” rating on shares of United States Steel in a research report on Friday, September 8th. Finally, Citigroup increased their price target on United States Steel from $20.00 to $22.00 and gave the stock a “sell” rating in a research report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $31.14.
United States Steel (NYSE X) traded up $0.20 during trading on Thursday, reaching $41.15. The company’s stock had a trading volume of 10,239,922 shares, compared to its average volume of 9,830,000. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.23 and a current ratio of 1.89. The stock has a market capitalization of $7,200.00, a price-to-earnings ratio of 60.51, a P/E/G ratio of 1.56 and a beta of 3.00. United States Steel has a one year low of $18.55 and a one year high of $41.83.
In other United States Steel news, insider Richard Fruehauf sold 5,959 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $30.00, for a total value of $178,770.00. Following the transaction, the insider now directly owns 7,960 shares of the company’s stock, valued at approximately $238,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David B. Burritt sold 36,072 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $39.95, for a total transaction of $1,441,076.40. Following the completion of the transaction, the chief executive officer now directly owns 166,411 shares in the company, valued at $6,648,119.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 128,706 shares of company stock worth $4,653,456. 1.00% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in X. Amerigo Asset Management acquired a new stake in United States Steel in the 3rd quarter valued at approximately $158,558,000. Ameriprise Financial Inc. increased its holdings in United States Steel by 173.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,463,410 shares of the basic materials company’s stock valued at $32,399,000 after purchasing an additional 928,898 shares during the last quarter. Prudential Financial Inc. increased its holdings in United States Steel by 524.7% in the 3rd quarter. Prudential Financial Inc. now owns 668,811 shares of the basic materials company’s stock valued at $17,161,000 after purchasing an additional 561,758 shares during the last quarter. CI Investments Inc. acquired a new stake in United States Steel in the 3rd quarter valued at approximately $9,402,000. Finally, State Street Corp increased its holdings in United States Steel by 6.2% in the 2nd quarter. State Street Corp now owns 5,889,434 shares of the basic materials company’s stock valued at $130,394,000 after purchasing an additional 341,591 shares during the last quarter. 64.21% of the stock is currently owned by hedge funds and other institutional investors.
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About United States Steel
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).
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