Morgan Stanley Forecasts Strong Price Appreciation for United States Steel (NYSE:X) Stock

United States Steel (NYSE:X) had its price target hoisted by equities research analysts at Morgan Stanley from $39.00 to $43.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the basic materials company’s stock. Morgan Stanley’s target price points to a potential upside of 18.95% from the stock’s current price.

Other analysts have also recently issued research reports about the company. BMO Capital Markets decreased their target price on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Bank of America assumed coverage on United States Steel in a research note on Monday, January 6th. They set a “neutral” rating and a $35.00 target price on the stock. Jefferies Financial Group reduced their price target on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of United States Steel from $44.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.32.

United States Steel Price Performance

NYSE:X traded down $1.04 during trading hours on Friday, reaching $36.15. 2,753,338 shares of the company’s stock were exchanged, compared to its average volume of 6,971,314. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $8.14 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86. United States Steel has a 12 month low of $26.92 and a 12 month high of $47.79. The business’s 50-day simple moving average is $36.49 and its two-hundred day simple moving average is $36.70.

United States Steel (NYSE:X) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. Sell-side analysts expect that United States Steel will post 1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On United States Steel

A number of hedge funds have recently bought and sold shares of X. Bessemer Group Inc. increased its stake in United States Steel by 64.0% during the fourth quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 277 shares during the period. Ameliora Wealth Management Ltd. bought a new position in United States Steel in the fourth quarter worth $27,000. ORG Wealth Partners LLC acquired a new stake in United States Steel during the fourth quarter worth $30,000. Parkworth Wealth Management Inc. bought a new stake in United States Steel in the 4th quarter valued at $31,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of United States Steel in the 4th quarter valued at $32,000. 81.92% of the stock is currently owned by institutional investors.

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.