StockNews.com Begins Coverage on United States Steel (NYSE:X)

Analysts at StockNews.com began coverage on shares of United States Steel (NYSE:X - Get Free Report) in a research report issued on Wednesday. The brokerage set a "hold" rating on the basic materials company's stock.

Several other analysts have also commented on the stock. BMO Capital Markets lowered their price objective on shares of United States Steel from $55.00 to $45.00 and set a "market perform" rating on the stock in a research report on Tuesday, March 19th. Morgan Stanley raised United States Steel from an "equal weight" rating to an "overweight" rating and cut their price target for the stock from $51.00 to $48.00 in a report on Monday, May 6th. JPMorgan Chase & Co. cut their target price on United States Steel from $47.00 to $43.00 and set a "neutral" rating for the company in a research note on Friday, May 3rd. Finally, Wolfe Research upgraded shares of United States Steel from a "peer perform" rating to an "outperform" rating and set a $46.00 price objective for the company in a research report on Tuesday, April 9th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, United States Steel has an average rating of "Hold" and an average price target of $38.00.

United States Steel Stock Up 0.6 %

X traded up $0.23 during mid-day trading on Wednesday, reaching $38.23. 1,632,641 shares of the stock were exchanged, compared to its average volume of 4,336,584. United States Steel has a 1 year low of $20.40 and a 1 year high of $50.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71. The stock has a market capitalization of $8.60 billion, a PE ratio of 11.21 and a beta of 2.06. The company has a 50 day moving average price of $40.16 and a two-hundred day moving average price of $41.86.

Hedge Funds Weigh In On United States Steel

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its holdings in United States Steel by 49.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 24,633 shares of the basic materials company's stock worth $800,000 after purchasing an additional 8,205 shares in the last quarter. CIBC Asset Management Inc purchased a new position in United States Steel during the 3rd quarter valued at about $202,000. Fifth Third Bancorp boosted its stake in United States Steel by 60.8% during the third quarter. Fifth Third Bancorp now owns 1,270 shares of the basic materials company's stock worth $41,000 after acquiring an additional 480 shares in the last quarter. Krilogy Financial LLC bought a new stake in United States Steel during the third quarter worth about $325,000. Finally, Lynwood Capital Management Inc. purchased a new stake in United States Steel in the third quarter worth about $325,000. Hedge funds and other institutional investors own 81.92% of the company's stock.

United States Steel Company Profile

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.