ArcelorMittal (NYSE:MT) Rating Lowered to "Equal Weight" at Barclays

ArcelorMittal (NYSE:MT - Get Free Report) was downgraded by research analysts at Barclays from an "overweight" rating to an "equal weight" rating in a research note issued to investors on Wednesday, MarketBeat reports.

A number of other research analysts have also recently weighed in on MT. The Goldman Sachs Group raised shares of ArcelorMittal from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $29.00 to $31.70 in a report on Thursday, April 10th. Wall Street Zen raised shares of ArcelorMittal from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of ArcelorMittal in a research note on Monday, April 14th. Finally, Jefferies Financial Group cut shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 target price for the company. in a research note on Wednesday, March 26th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $32.95.

ArcelorMittal Stock Performance

Shares of NYSE:MT traded up $0.06 on Wednesday, hitting $32.66. 650,988 shares of the company were exchanged, compared to its average volume of 1,824,973. ArcelorMittal has a 1-year low of $20.52 and a 1-year high of $34.90. The stock's 50 day moving average price is $31.32 and its 200 day moving average price is $28.80. The company has a current ratio of 1.35, a quick ratio of 0.58 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $26.75 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 0.14 and a beta of 1.63.

ArcelorMittal (NYSE:MT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.33. The company had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a net margin of 1.98% and a return on equity of 4.11%. The firm's quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 earnings per share. Sell-side analysts predict that ArcelorMittal will post 3.72 EPS for the current year.

Institutional Trading of ArcelorMittal

Large investors have recently bought and sold shares of the business. SVB Wealth LLC purchased a new stake in shares of ArcelorMittal in the 1st quarter valued at approximately $43,000. Geneos Wealth Management Inc. lifted its holdings in shares of ArcelorMittal by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company's stock worth $47,000 after acquiring an additional 501 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of ArcelorMittal by 25.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company's stock worth $51,000 after acquiring an additional 360 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of ArcelorMittal by 31.1% in the 1st quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company's stock worth $55,000 after acquiring an additional 456 shares during the last quarter. Finally, Bayforest Capital Ltd lifted its holdings in shares of ArcelorMittal by 23.7% in the 1st quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company's stock worth $62,000 after acquiring an additional 440 shares during the last quarter. Hedge funds and other institutional investors own 9.29% of the company's stock.

ArcelorMittal Company Profile

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.