ValuEngine upgraded shares of ArcelorMittal (NYSE:MT) from a buy rating to a strong-buy rating in a research report report published on Monday morning.

A number of other research analysts also recently issued reports on the stock. Deutsche Bank AG upgraded shares of ArcelorMittal from a hold rating to a buy rating and boosted their price target for the stock from $25.00 to $32.00 in a research report on Wednesday, July 12th. BidaskClub upgraded shares of ArcelorMittal from a buy rating to a strong-buy rating in a research report on Wednesday, July 19th. Jefferies Group LLC restated a buy rating and issued a $34.00 price target (up previously from $31.50) on shares of ArcelorMittal in a research report on Tuesday, July 18th. Zacks Investment Research upgraded shares of ArcelorMittal from a hold rating to a buy rating and set a $26.00 price target on the stock in a research report on Tuesday, July 11th. Finally, SBG Securities downgraded shares of ArcelorMittal from a buy rating to a hold rating in a research report on Sunday, July 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $30.77.

Shares of ArcelorMittal (NYSE:MT) traded up 1.3392% during midday trading on Monday, reaching $26.8549. 1,468,187 shares of the company’s stock traded hands. ArcelorMittal has a 52-week low of $18.24 and a 52-week high of $28.11. The stock has a 50-day moving average price of $26.40 and a 200-day moving average price of $24.29. The stock has a market cap of $27.39 billion, a P/E ratio of 8.4503 and a beta of 2.10.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.55. The firm had revenue of $17.24 billion for the quarter, compared to the consensus estimate of $16.88 billion. ArcelorMittal had a net margin of 5.50% and a return on equity of 10.52%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 EPS. Analysts forecast that ArcelorMittal will post $3.12 earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the business. Marshall Wace North America L.P. bought a new stake in ArcelorMittal during the 1st quarter valued at $4,632,000. Morgan Stanley increased its stake in ArcelorMittal by 55.5% during the 1st quarter. Morgan Stanley now owns 2,270,841 shares of the basic materials company’s stock valued at $18,961,000 after purchasing an additional 810,291 shares in the last quarter. Jane Street Group LLC increased its stake in ArcelorMittal by 775.6% during the 1st quarter. Jane Street Group LLC now owns 2,127,765 shares of the basic materials company’s stock valued at $17,767,000 after purchasing an additional 1,884,765 shares in the last quarter. First Trust Advisors LP bought a new stake in ArcelorMittal during the 1st quarter valued at $555,000. Finally, Two Sigma Securities LLC bought a new stake in ArcelorMittal during the 1st quarter valued at $196,000. Institutional investors and hedge funds own 3.57% of the company’s stock.

About ArcelorMittal

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

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Analyst Recommendations for ArcelorMittal (NYSE:MT)

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