ArcelorMittal (NYSE:MT) Stock Rating Upgraded by Wall Street Zen

ArcelorMittal (NYSE:MT) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

MT has been the subject of several other reports. Jefferies Financial Group cut ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 target price for the company. in a research report on Wednesday, March 26th. The Goldman Sachs Group raised ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their target price for the company from $29.00 to $31.70 in a research note on Thursday, April 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of ArcelorMittal in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.95.

ArcelorMittal Stock Performance

NYSE:MT opened at $34.46 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.35 and a quick ratio of 0.58. The business has a fifty day simple moving average of $31.08 and a two-hundred day simple moving average of $28.52. ArcelorMittal has a 1 year low of $20.52 and a 1 year high of $34.90. The company has a market capitalization of $28.23 billion, a P/E ratio of 22.52, a P/E/G ratio of 0.15 and a beta of 1.63.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.33. The company had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $15.11 billion. ArcelorMittal had a return on equity of 4.11% and a net margin of 1.98%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 earnings per share. On average, analysts expect that ArcelorMittal will post 3.72 earnings per share for the current year.

Institutional Trading of ArcelorMittal

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SVB Wealth LLC bought a new position in shares of ArcelorMittal during the 1st quarter valued at $43,000. Geneos Wealth Management Inc. lifted its holdings in shares of ArcelorMittal by 44.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock valued at $47,000 after buying an additional 501 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of ArcelorMittal by 25.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company’s stock valued at $51,000 after buying an additional 360 shares during the period. GAMMA Investing LLC raised its holdings in ArcelorMittal by 31.1% in the 1st quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 456 shares during the period. Finally, Bayforest Capital Ltd raised its holdings in ArcelorMittal by 23.7% in the 1st quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 440 shares during the period. Hedge funds and other institutional investors own 9.29% of the company’s stock.

About ArcelorMittal

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.