ArcelorMittal (NYSE:MT) was upgraded by stock analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.

A number of other research analysts have also weighed in on MT. Zacks Investment Research lowered shares of ArcelorMittal from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 8th. Deutsche Bank AG raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and boosted their target price for the company from $25.00 to $32.00 in a report on Wednesday, July 12th. BidaskClub upgraded ArcelorMittal from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Jefferies Group LLC restated a “buy” rating and set a $34.00 target price (up previously from $31.50) on shares of ArcelorMittal in a research report on Tuesday, July 18th. Finally, SBG Securities lowered ArcelorMittal from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $30.77.

Shares of ArcelorMittal (NYSE MT) traded up 2.21% on Monday, reaching $26.33. The company’s stock had a trading volume of 3,698,170 shares. ArcelorMittal has a 52-week low of $17.85 and a 52-week high of $28.11. The stock has a market cap of $26.86 billion, a P/E ratio of 8.29 and a beta of 2.10. The firm’s 50 day moving average is $26.35 and its 200-day moving average is $24.28.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.55. The company had revenue of $17.24 billion for the quarter, compared to analyst estimates of $16.88 billion. ArcelorMittal had a net margin of 5.50% and a return on equity of 10.52%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share. On average, equities research analysts forecast that ArcelorMittal will post $3.12 EPS for the current year.

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Several hedge funds have recently bought and sold shares of MT. BB&T Corp raised its stake in ArcelorMittal by 0.4% in the second quarter. BB&T Corp now owns 35,799 shares of the basic materials company’s stock valued at $813,000 after purchasing an additional 137 shares in the last quarter. Ameriprise Financial Inc. grew its stake in ArcelorMittal by 0.5% in the 1st quarter. Ameriprise Financial Inc. now owns 53,502 shares of the basic materials company’s stock worth $447,000 after buying an additional 285 shares in the last quarter. Alliancebernstein L.P. grew its stake in ArcelorMittal by 1.2% in the 1st quarter. Alliancebernstein L.P. now owns 59,901 shares of the basic materials company’s stock worth $500,000 after buying an additional 720 shares in the last quarter. Quadrant Capital Group LLC grew 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 worth $157,000 after buying an additional 1,479 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in ArcelorMittal by 7.8% in the 1st quarter. Bank of Montreal Can now owns 22,020 shares of the basic materials company’s stock worth $184,000 after buying an additional 1,599 shares in the last quarter. Institutional investors own 3.57% of the company’s stock.

About ArcelorMittal

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.

Analyst Recommendations for ArcelorMittal (NYSE:MT)

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