United States Steel Corporation (X) Upgraded to Market Perform by Cowen and Company

United States Steel Corporation (NYSE:X) was upgraded by Cowen and Company from an “underperform” rating to a “market perform” rating in a research note issued on Thursday. The brokerage currently has a $28.00 price objective on the basic materials company’s stock, up from their prior price objective of $20.00. Cowen and Company’s price objective suggests a potential upside of 10.58% from the company’s current price.

Other analysts also recently issued research reports about the company. Standpoint Research downgraded United States Steel Corporation from a “buy” rating to a “reduce” rating in a report on Tuesday, September 5th. BidaskClub raised United States Steel Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Axiom Securities reissued a “sell” rating on shares of United States Steel Corporation in a report on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and issued a $32.00 price target on shares of United States Steel Corporation in a report on Thursday, August 31st. Finally, Barclays PLC reissued an “equal weight” rating and issued a $25.00 price target (up previously from $24.00) on shares of United States Steel Corporation in a report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. United States Steel Corporation presently has an average rating of “Hold” and an average target price of $28.82.

United States Steel Corporation (NYSE:X) last released its earnings results on Tuesday, October 31st. The basic materials company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.25. United States Steel Corporation had a return on equity of 10.79% and a net margin of 1.05%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter last year, the business posted $0.40 EPS. United States Steel Corporation’s quarterly revenue was up 20.9% compared to the same quarter last year.

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In other United States Steel Corporation news, CFO Kevin Bradley acquired 36,762 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were acquired at an average cost of $27.23 per share, for a total transaction of $1,001,029.26. Following the completion of the purchase, the chief financial officer now owns 30,415 shares of the company’s stock, valued at approximately $828,200.45. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eugene Sperling acquired 1,000 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was acquired at an average price of $25.16 per share, for a total transaction of $25,160.00. Following the completion of the purchase, the director now directly owns 3,009 shares of the company’s stock, valued at approximately $75,706.44. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 64,597 shares of company stock valued at $1,764,452. Insiders own 1.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of X. Regal Investment Advisors LLC increased its stake in United States Steel Corporation by 29.2% during the second quarter. Regal Investment Advisors LLC now owns 24,168 shares of the basic materials company’s stock valued at $535,000 after acquiring an additional 5,460 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in United States Steel Corporation by 150.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 56,881 shares of the basic materials company’s stock valued at $1,259,000 after acquiring an additional 34,209 shares during the period. Skylands Capital LLC bought a new position in United States Steel Corporation during the second quarter valued at about $684,000. Stifel Financial Corp increased its stake in United States Steel Corporation by 304.0% during the second quarter. Stifel Financial Corp now owns 159,801 shares of the basic materials company’s stock valued at $3,531,000 after acquiring an additional 120,248 shares during the period. Finally, Balyasny Asset Management LLC increased its stake in United States Steel Corporation by 1,032.0% during the second quarter. Balyasny Asset Management LLC now owns 115,034 shares of the basic materials company’s stock valued at $2,547,000 after acquiring an additional 104,872 shares during the period. Institutional investors and hedge funds own 63.77% of the company’s stock.

United States Steel Corporation 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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