JPMorgan Chase & Co. Reaffirms “Neutral” Rating for United States Steel (NYSE:X)

United States Steel (NYSE:X)‘s stock had its “neutral” rating restated by stock analysts at JPMorgan Chase & Co. in a research note issued on Wednesday, MarketBeat reports. They currently have a $38.00 price target on the basic materials company’s stock, down from their prior price target of $43.00. JPMorgan Chase & Co.‘s target price indicates a potential downside of 8.51% from the stock’s previous close.

X has been the subject of a number of other research reports. BMO Capital Markets reiterated a “market perform” rating and set a $45.00 price objective on shares of United States Steel in a research report on Monday, March 31st. Jefferies Financial Group lowered their target price 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. Morgan Stanley boosted their price objective on shares of United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday, March 7th. Finally, Bank of America began coverage on shares of United States Steel in a research note on Monday, January 6th. They issued a “neutral” rating and a $35.00 price target on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, United States Steel presently has an average rating of “Hold” and a consensus price target of $39.94.

United States Steel Price Performance

Shares of United States Steel stock opened at $41.54 on Wednesday. The firm has a market cap of $9.40 billion, a PE ratio of 27.88, a price-to-earnings-growth 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. The company’s fifty day simple moving average is $40.10 and its two-hundred day simple moving average is $37.78. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. As a group, equities analysts expect that United States Steel will post 1.43 EPS for the current year.

Hedge Funds Weigh In On United States Steel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in United States Steel by 64.0% during the fourth quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 277 shares in the last quarter. Ameliora Wealth Management Ltd. acquired a new stake in United States Steel in the 4th quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in shares of United States Steel in the 4th quarter worth $30,000. Parkworth Wealth Management Inc. purchased a new stake in shares of United States Steel during the 4th quarter valued at approximately $31,000. Finally, Lee Danner & Bass Inc. acquired a new position in United States Steel in the fourth quarter valued at about $32,000. 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.