United States Steel (NYSE:X) Given New $40.00 Price Target at JPMorgan Chase & Co.

United States Steel (NYSE:X) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $44.00 to $40.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 10.78% from the stock’s current price.

Other equities research 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 initiated coverage on shares of United States Steel in a report on Monday, January 6th. They set a “neutral” rating and a $35.00 price objective for the company. Finally, Jefferies Financial Group cut their target price 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. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, United States Steel presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.07.

United States Steel Stock Up 0.9 %

X stock traded up $0.31 during trading hours on Friday, hitting $36.11. The company’s stock had a trading volume of 199,956 shares, compared to its average volume of 11,236,251. The stock has a 50 day moving average price of $35.71 and a two-hundred day moving average price of $37.20. United States Steel has a 12 month low of $26.92 and a 12 month high of $48.85. The company has a market capitalization of $8.13 billion, a PE ratio of 23.83 and a beta of 1.88. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35.

United States Steel (NYSE:X) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.41 by $0.15. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The business’s quarterly revenue was down 13.0% on a year-over-year basis. On average, equities research analysts expect that United States Steel will post 1.99 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of X. ORG Wealth Partners LLC bought a new stake in shares of United States Steel during the fourth quarter valued at approximately $30,000. Palouse Capital Management Inc. bought a new position in United States Steel in the 3rd quarter valued at $35,000. Gladius Capital Management LP acquired a new stake in shares of United States Steel in the 3rd quarter valued at $39,000. GAMMA Investing LLC raised its position in shares of United States Steel by 50.0% during the fourth quarter. GAMMA Investing LLC now owns 1,326 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 442 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of United States Steel during the third quarter valued at $59,000. 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.