United States Steel (NYSE:X) Stock Rating Upgraded by Morgan Stanley

United States Steel (NYSE:X) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, Marketbeat reports. The brokerage currently has a $48.00 price objective on the basic materials company’s stock, down from their previous price objective of $51.00. Morgan Stanley’s price objective suggests a potential upside of 25.89% from the company’s current price.

A number of other research analysts have also commented on X. StockNews.com initiated coverage on United States Steel in a research report on Monday, April 29th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. lowered their price objective on United States Steel from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. BMO Capital Markets dropped their price objective on United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, March 19th. Finally, Wolfe Research raised shares of 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $38.00.

United States Steel Stock Up 0.2 %

Shares of X opened at $38.13 on Monday. The business’s 50 day simple moving average is $41.11 and its 200-day simple moving average is $41.66. United States Steel has a one year low of $20.40 and a one year high of $50.20. The company has a market capitalization of $8.57 billion, a P/E ratio of 11.18 and a beta of 2.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14.

Institutional Investors Weigh In On United States Steel

Several large investors have recently made changes to their positions in X. Stratos Wealth Partners LTD. increased its position in United States Steel by 12.9% during the third quarter. Stratos Wealth Partners LTD. now owns 20,799 shares of the basic materials company’s stock worth $676,000 after buying an additional 2,372 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of United States Steel by 6.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,001 shares of the basic materials company’s stock worth $2,046,000 after acquiring an additional 4,016 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in United States Steel by 6.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,243,678 shares of the basic materials company’s stock valued at $40,395,000 after acquiring an additional 77,225 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in United States Steel by 49.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 24,633 shares of the basic materials company’s stock valued at $800,000 after purchasing an additional 8,205 shares during the last quarter. Finally, Arete Wealth Advisors LLC bought a new position in United States Steel during the third quarter worth $849,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Company Profile

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.