BofA Securities slashes price target on United States Steel Corporation [X] – find out why.

United States Steel Corporation [NYSE: X] jumped around 0.64 points on Monday, while shares priced at $28.91 at the close of the session, up 2.26%. The company report on February 14, 2023 that U. S. Steel Announces Supply Agreement with General Motors for U.S.-Sourced Sustainable verdeX® Steel.

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United States Steel Corporation (NYSE: X) (“U. S. Steel”) announced today that it will supply General Motors (GM) with its advanced and sustainable steel solution called verdeX® steel. The steel is manufactured with up to 75 percent fewer emissions compared to traditional blast furnace production1, is made with up to 90 percent recycled content and is endlessly recyclable without degradation.

U. S. Steel’s verdeX® steel will be manufactured at Big River Steel, a LEED Certified® facility that also meets the ResponsibleSteel™ Standard site certification, along with a new advanced technology mill under construction in Osceola, Ark. The steel produced at the Big River Steel facility will begin shipping to GM manufacturing facilities starting this year.

United States Steel Corporation stock is now 15.41% up from its year-to-date (YTD) trading value. X Stock saw the intraday high of $29.365 and lowest of $28.42 per share. The company’s 52-week high price is 39.25, which means current price is +18.82% above from all time high which was touched on 02/03/23.

Compared to the average trading volume of 6.64M shares, X reached a trading volume of 6212968 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about United States Steel Corporation [X]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for X shares is $29.22 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on X stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for United States Steel Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 04, 2023. While these analysts kept the previous recommendation, Credit Suisse dropped their target price from $49 to $44. The new note on the price target was released on June 17, 2022, representing the official price target for United States Steel Corporation stock. Previously, the target price had yet another drop from $34 to $28, while JP Morgan kept a Underweight rating on X stock. On March 07, 2022, analysts increased their price target for X shares from 21 to 31.

The Average True Range (ATR) for United States Steel Corporation is set at 1.14, with the Price to Sales ratio for X stock in the period of the last 12 months amounting to 0.31. The Price to Book ratio for the last quarter was 0.66, with the Price to Cash per share for the same quarter was set at 15.44. Price to Free Cash Flow for X in the course of the last twelve months was 3.78 with Quick ratio for the last quarter at 1.40.

How has X stock performed recently?

United States Steel Corporation [X] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.18. With this latest performance, X shares dropped by -1.20% in over the last four-week period, additionally plugging by 11.88% over the last 6 months – not to mention a rise of 18.68% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for X stock in for the last two-week period is set at 54.06, with the RSI for the last a single of trading hit 54.01, and the three-weeks RSI is set at 54.75 for United States Steel Corporation [X]. The present Moving Average for the last 50 days of trading for this stock 27.51, while it was recorded at 28.44 for the last single week of trading, and 23.44 for the last 200 days.

United States Steel Corporation [X]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and United States Steel Corporation [X] shares currently have an operating margin of +14.05 and a Gross Margin at +15.89. United States Steel Corporation’s Net Margin is presently recorded at +11.97.

Return on Equity for this stock inclined to 26.25, with Return on Assets sitting at 13.54.

United States Steel Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 2.00.

Earnings analysis for United States Steel Corporation [X]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for X. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for United States Steel Corporation go to 8.00%.

Insider trade positions for United States Steel Corporation [X]

There are presently around $4,712 million, or 79.20% of X stock, in the hands of institutional investors. The top three institutional holders of X stocks are: BLACKROCK INC. with ownership of 21,493,323, which is approximately 3.27% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 21,033,474 shares of the stock with an approximate value of $608.08 million in X stocks shares; and STATE STREET CORP, currently with $299.42 million in X stock with ownership of nearly 10.552% of the company’s market capitalization.

Positions in United States Steel Corporation stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 191 institutional holders increased their position in United States Steel Corporation [NYSE:X] by around 16,944,941 shares. Additionally, 222 investors decreased positions by around 33,942,465 shares, while 77 investors held positions by with 112,096,935 shares. The mentioned changes placed institutional holdings at 162,984,341 shares, according to the latest SEC report filing. X stock had 81 new institutional investments in for a total of 5,412,209 shares, while 59 institutional investors sold positions of 4,973,327 shares during the same period.


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