Cowen and Company Reiterates “Hold” Rating for United States Steel Corporation (NYSE:X)

United States Steel Corporation (NYSE:X)‘s stock had its “hold” rating reissued by research analysts at Cowen and Company in a note issued to investors on Friday, September 1st. They currently have a $24.00 price target on the basic materials company’s stock. Cowen and Company’s price target would indicate a potential downside of 4.34% from the company’s current price.

Several other research firms have also recently weighed in on X. Barclays PLC dropped their price objective on shares of United States Steel Corporation from $34.00 to $24.00 and set an “equal weight” rating for the company in a research report on Thursday, May 4th. Longbow Research restated a “neutral” rating on shares of United States Steel Corporation in a research report on Tuesday, May 9th. Zacks Investment Research cut shares of United States Steel Corporation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 23rd. Credit Suisse Group upgraded shares of United States Steel Corporation from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $13.68 to $30.00 in a research report on Wednesday, May 24th. Finally, J P Morgan Chase & Co restated an “overweight” rating on shares of United States Steel Corporation in a research report on Wednesday, June 7th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $28.52.

United States Steel Corporation (X) opened at 25.09 on Friday. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 158.80 and a beta of 2.88. United States Steel Corporation has a one year low of $16.17 and a one year high of $41.83. The company has a 50-day moving average price of $24.89 and a 200-day moving average price of $26.01.

United States Steel Corporation (NYSE:X) last announced its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.66. United States Steel Corporation had a net margin of 0.24% and a return on equity of 6.50%. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter last year, the company earned ($0.32) earnings per share. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. Equities research analysts anticipate that United States Steel Corporation will post $1.74 EPS for the current year.

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In related news, CFO Kevin Bradley purchased 22,835 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were acquired at an average price of $27.62 per share, for a total transaction of $630,702.70. Following the purchase, the chief financial officer now owns 30,415 shares in the company, valued at $840,062.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Murry Gerber purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was bought at an average price of $26.89 per share, for a total transaction of $107,560.00. Following the purchase, the director now owns 168,457 shares in the company, valued at approximately $4,529,808.73. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 63,597 shares of company stock worth $1,739,292. 1.00% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its position in shares of United States Steel Corporation by 1,971.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,315 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 3,155 shares in the last quarter. Global X Management Co. LLC grew its position in shares of United States Steel Corporation by 221.0% during the 2nd quarter. Global X Management Co. LLC now owns 5,473 shares of the basic materials company’s stock worth $121,000 after purchasing an additional 3,768 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of United States Steel Corporation during the 1st quarter worth approximately $209,000. Acrospire Investment Management LLC grew its position in shares of United States Steel Corporation by 241.1% during the 1st quarter. Acrospire Investment Management LLC now owns 6,212 shares of the basic materials company’s stock worth $210,000 after purchasing an additional 4,391 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of United States Steel Corporation by 21.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,301 shares of the basic materials company’s stock worth $213,000 after purchasing an additional 1,112 shares in the last quarter. Hedge funds and other institutional investors own 63.37% of the company’s stock.

United States Steel Corporation Company Profile

United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).

Analyst Recommendations for United States Steel Corporation (NYSE:X)

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