Wall Street Zen Downgrades ArcelorMittal (NYSE:MT) to Hold

ArcelorMittal (NYSE:MT - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday.

A number of other research firms have also recently commented on MT. Barclays cut shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of ArcelorMittal in a research report on Monday, April 14th. Jefferies Financial Group cut shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 price objective for the company. in a research report on Wednesday, March 26th. Finally, The Goldman Sachs Group upgraded shares of ArcelorMittal from a "neutral" rating to a "buy" rating and upped their price objective for the company from $29.00 to $31.70 in a research report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, ArcelorMittal has an average rating of "Hold" and an average price target of $32.95.

ArcelorMittal Trading Up 1.4%

Shares of ArcelorMittal stock traded up $0.46 on Friday, hitting $34.10. 552,907 shares of the company's stock traded hands, compared to its average volume of 2,017,909. The firm's 50-day moving average price is $31.37 and its two-hundred day moving average price is $28.95. The stock has a market capitalization of $27.93 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 0.14 and a beta of 1.63. ArcelorMittal has a one year low of $20.52 and a one year high of $34.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.35 and a quick ratio of 0.58.

ArcelorMittal (NYSE:MT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.71 by $0.33. The company had revenue of $14.80 billion during the quarter, compared to analysts' expectations of $15.11 billion. ArcelorMittal had a net margin of 1.98% and a return on equity of 4.11%. The business's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS. On average, research analysts expect that ArcelorMittal will post 3.72 EPS for the current fiscal year.

Institutional Investors Weigh In On ArcelorMittal

A number of institutional investors and hedge funds have recently modified their holdings of MT. SVB Wealth LLC bought a new position in ArcelorMittal in the 1st quarter valued at about $43,000. Geneos Wealth Management Inc. raised its holdings in ArcelorMittal by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company's stock valued at $47,000 after acquiring an additional 501 shares during the period. Hexagon Capital Partners LLC increased its holdings in shares of ArcelorMittal by 25.4% during the first quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company's stock worth $51,000 after purchasing an additional 360 shares during the period. GAMMA Investing LLC increased its holdings in shares of ArcelorMittal by 31.1% during the first quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company's stock worth $55,000 after purchasing an additional 456 shares during the period. Finally, Bayforest Capital Ltd increased its holdings in shares of ArcelorMittal by 23.7% during the first quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company's stock worth $62,000 after purchasing an additional 440 shares during the period. 9.29% of the stock is owned by institutional investors.

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.