United States Steel (X) Earns Neutral Rating from Analysts at Goldman Sachs
Goldman Sachs initiated coverage on shares of United States Steel (NYSE:X) in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $45.00 price target on the basic materials company’s stock. Goldman Sachs’ target price would indicate a potential upside of 16.10% from the stock’s previous close.
Several other analysts have also weighed in on the stock. Morgan Stanley lowered their target price on shares of United States Steel from $46.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Cowen reiterated a “market perform” rating and set a $41.00 target price (up previously from $40.00) on shares of United States Steel in a research note on Thursday, February 1st. ValuEngine upgraded shares of United States Steel from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Credit Suisse Group boosted their target price on shares of United States Steel from $34.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Finally, Longbow Research upgraded shares of United States Steel from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. United States Steel has an average rating of “Hold” and an average price target of $37.57.
Shares of United States Steel (X) opened at $38.76 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.75 and a debt-to-equity ratio of 0.81. The stock has a market cap of $6,870.00, a price-to-earnings ratio of 17.78, a P/E/G ratio of 1.10 and a beta of 2.79. United States Steel has a 12 month low of $18.55 and a 12 month high of $47.64.
In related news, SVP Christine S. Breves sold 11,853 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $38.47, for a total value of $455,984.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David J. Rintoul sold 17,640 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $36.57, for a total transaction of $645,094.80. Following the completion of the sale, the senior vice president now directly owns 63,449 shares of the company’s stock, valued at approximately $2,320,329.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,595 shares of company stock valued at $5,427,450. Corporate insiders own 1.01% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. lifted its holdings in United States Steel by 22.0% in the third quarter. Pacer Advisors Inc. now owns 33,080 shares of the basic materials company’s stock worth $849,000 after purchasing an additional 5,961 shares during the period. American International Group Inc. lifted its holdings in United States Steel by 1.1% in the fourth quarter. American International Group Inc. now owns 361,380 shares of the basic materials company’s stock worth $12,717,000 after purchasing an additional 4,063 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in United States Steel by 7.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 752,227 shares of the basic materials company’s stock worth $26,471,000 after purchasing an additional 49,542 shares during the period. Principal Financial Group Inc. lifted its holdings in United States Steel by 0.7% in the third quarter. Principal Financial Group Inc. now owns 743,908 shares of the basic materials company’s stock worth $19,088,000 after purchasing an additional 4,827 shares during the period. Finally, MUFG Americas Holdings Corp acquired a new stake in United States Steel in the fourth quarter worth about $289,000. 68.26% of the stock is owned by institutional investors and hedge funds.
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United States Steel Company Profile
United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).
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