United States Steel (NYSE:X) Price Target Lowered to $43.00 at JPMorgan Chase & Co.

United States Steel (NYSE:X) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $47.00 to $43.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 17.91% from the company’s previous close.

X has been the subject of several other reports. BMO Capital Markets dropped their target price on United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, March 19th. StockNews.com started coverage on shares of United States Steel in a report on Monday, April 29th. They issued a “hold” rating for the company. Wolfe Research raised shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a research note on Tuesday, April 9th. Finally, Morgan Stanley cut shares of United States Steel from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $40.00 to $51.00 in a research note on Thursday, February 15th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.89.

United States Steel Stock Down 1.6 %

X stock opened at $36.47 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average of $41.48 and a two-hundred day moving average of $41.51. United States Steel has a 12 month low of $20.40 and a 12 month high of $50.20. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 10.70 and a beta of 2.06.

United States Steel (NYSE:X) last posted its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.46. United States Steel had a return on equity of 10.68% and a net margin of 4.89%. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same period in the prior year, the business earned $0.87 earnings per share. The business’s revenue was down 4.5% compared to the same quarter last year. As a group, analysts forecast that United States Steel will post 2.99 earnings per share for the current fiscal year.

Institutional Trading of United States Steel

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of United States Steel during the fourth quarter worth $25,000. Byrne Asset Management LLC lifted its stake in United States Steel by 1,140.0% during the 1st quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 570 shares in the last quarter. GAMMA Investing LLC purchased a new position in United States Steel during the 4th quarter valued at about $33,000. Riverview Trust Co acquired a new position in United States Steel in the 1st quarter valued at about $29,000. Finally, Pineridge Advisors LLC purchased a new stake in United States Steel during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

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.