Morgan Stanley Issues Positive Forecast for United States Steel (NYSE:X) Stock Price

United States Steel (NYSE:X - Get Free Report) had its price target boosted by analysts at Morgan Stanley from $35.00 to $38.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the basic materials company's stock. Morgan Stanley's price target suggests a potential downside of 11.84% from the stock's current price.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $38.00 target price (down previously from $43.00) on shares of United States Steel in a research note on Wednesday, April 16th. BMO Capital Markets reiterated a "market perform" rating and set a $45.00 price objective on shares of United States Steel in a research note on Monday, March 31st. Bank of America began coverage on United States Steel in a research note on Monday, January 6th. They issued a "neutral" rating and a $35.00 target price on the stock. Finally, Jefferies Financial Group lowered their price target on 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. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $39.22.

United States Steel Trading Down 2.1 %

X stock traded down $0.95 on Monday, reaching $43.10. The company's stock had a trading volume of 954,723 shares, compared to its average volume of 5,509,680. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55. The business has a fifty day simple moving average of $40.99 and a two-hundred day simple moving average of $38.30. The firm has a market cap of $9.76 billion, a PE ratio of 28.95, a PEG ratio of 1.53 and a beta of 1.79. United States Steel has a 12-month low of $26.92 and a 12-month high of $46.18.

United States Steel (NYSE:X - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. The company had revenue of $3.73 billion for the quarter, compared to analysts' expectations of $3.54 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. United States Steel's quarterly revenue was down 10.4% compared to the same quarter last year. As a group, research analysts forecast that United States Steel will post 1.43 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in X. Private Advisor Group LLC lifted its position in shares of United States Steel by 86.4% in the first quarter. Private Advisor Group LLC now owns 23,123 shares of the basic materials company's stock worth $977,000 after buying an additional 10,721 shares in the last quarter. Tabor Asset Management LP bought a new stake in United States Steel in the 1st quarter worth approximately $2,977,000. Massachusetts Financial Services Co. MA raised its holdings in shares of United States Steel by 14.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,440,069 shares of the basic materials company's stock worth $229,897,000 after acquiring an additional 666,844 shares in the last quarter. CWM LLC boosted its position in shares of United States Steel by 103.4% during the 1st quarter. CWM LLC now owns 5,090 shares of the basic materials company's stock valued at $215,000 after acquiring an additional 2,588 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of United States Steel by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 63,100 shares of the basic materials company's stock valued at $2,667,000 after purchasing an additional 600 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

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.

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