United States Steel (NYSE:X) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

United States Steel (NYSE:X) had its price objective boosted by equities research analysts at JPMorgan Chase & Co. from $40.00 to $43.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 19.01% from the company’s previous close.

X has been the subject of a number of other research reports. Bank of America began coverage on shares of United States Steel in a research report on Monday, January 6th. They set a “neutral” rating and a $35.00 target price for the company. Morgan Stanley lifted their price objective on United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday. Jefferies Financial Group lowered their target price on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, BMO Capital Markets cut their price target on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, United States Steel presently has an average rating of “Moderate Buy” and an average target price of $40.70.

United States Steel Price Performance

Shares of X traded up $0.99 on Tuesday, reaching $36.13. The stock had a trading volume of 1,816,482 shares, compared to its average volume of 6,908,428. United States Steel has a twelve month low of $26.92 and a twelve month high of $47.32. The firm has a market capitalization of $8.14 billion, a PE ratio of 24.14, a PEG ratio of 1.53 and a beta of 1.86. The firm has a 50-day moving average of $36.68 and a 200 day moving average of $36.63. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last posted 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 net margin of 2.46% and a return on equity of 4.27%. Sell-side analysts expect that United States Steel will post 1.43 EPS for the current year.

Institutional Investors Weigh In On United States Steel

Hedge funds have recently modified their holdings of the stock. US Bancorp DE boosted its holdings in shares of United States Steel by 40.1% in the 3rd quarter. US Bancorp DE now owns 9,018 shares of the basic materials company’s stock valued at $319,000 after purchasing an additional 2,581 shares during the last quarter. Sigma Planning Corp raised its position in shares of United States Steel by 6.7% in the 3rd quarter. Sigma Planning Corp now owns 14,660 shares of the basic materials company’s stock worth $518,000 after buying an additional 920 shares during the period. Rakuten Securities Inc. boosted its holdings in United States Steel by 9.2% in the third quarter. Rakuten Securities Inc. now owns 3,328 shares of the basic materials company’s stock valued at $118,000 after acquiring an additional 279 shares during the last quarter. Verus Capital Partners LLC grew its position in United States Steel by 88.6% during the third quarter. Verus Capital Partners LLC now owns 28,940 shares of the basic materials company’s stock valued at $1,022,000 after acquiring an additional 13,594 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in United States Steel during the third quarter worth about $608,000. 81.92% of the stock is owned by institutional investors and hedge funds.

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.