StockNews.com Initiates Coverage on United States Steel (NYSE:X)

Research analysts at StockNews.com started coverage on shares of United States Steel (NYSE:X) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the basic materials company’s stock.

X has been the topic of a number of other reports. Wolfe Research upgraded shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research report on Tuesday, April 9th. JPMorgan Chase & Co. reduced their price target on shares of United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Morgan Stanley upgraded shares of United States Steel from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $51.00 to $48.00 in a research report on Monday. Finally, BMO Capital Markets reduced their price target on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 19th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $38.00.

United States Steel Stock Up 0.6 %

Shares of NYSE X opened at $38.36 on Tuesday. United States Steel has a one year low of $20.40 and a one year high of $50.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14. The firm’s 50 day simple moving average is $40.92 and its two-hundred day simple moving average is $41.64. The stock has a market capitalization of $8.63 billion, a P/E ratio of 11.25 and a beta of 2.06.

Institutional Trading of United States Steel

A number of institutional investors and hedge funds have recently added to or reduced their stakes in X. Stratos Wealth Partners LTD. lifted its stake in United States Steel by 12.9% in the third quarter. Stratos Wealth Partners LTD. now owns 20,799 shares of the basic materials company’s stock worth $676,000 after acquiring an additional 2,372 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in United States Steel by 6.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,001 shares of the basic materials company’s stock valued at $2,046,000 after buying an additional 4,016 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in United States Steel by 6.6% during the third 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 buying an additional 77,225 shares during the period. Allspring Global Investments Holdings LLC lifted its position in United States Steel by 49.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 24,633 shares of the basic materials company’s stock valued at $800,000 after buying an additional 8,205 shares during the period. Finally, Arete Wealth Advisors LLC purchased a new position in United States Steel during the third quarter valued at $849,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

About United States Steel

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.