United States Steel Got Some Good News

By Carrie Williams

In a report released today, Jorge Beristain from Deutsche Bank upgraded United States Steel (NYSE: X) to Buy. The company’s shares closed yesterday at $21.07.

According to TipRanks.com, Beristain is ranked #4483 out of 4583 analysts.

Currently, the analyst consensus on United States Steel is Moderate Buy and the average price target is $24.63, representing a 16.9% upside.

In a report issued on June 19, Longbow Research also upgraded the stock to Buy.

Based on United States Steel’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $2.73 billion and GAAP net loss of $180 million. In comparison, last year the company earned revenue of $2.34 billion and had a GAAP net loss of $340 million.

Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of X in relation to earlier this year. Most recently, in February 2017, David Burritt, the EVP & CFO of X sold 204,630 shares for a total of $8,363,228.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following segments: Flat-Rolled Products, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and production facilities that manufactures steel slabs, rounds, strip mill plates, sheets, tin mill, iron ore, and coke. The U.S. Steel Europe segment offers producing and marketsing strip mill plates, spiral welded pipe, heating radiators, refractory ceramic materials. The Tubular Products segment involves in manufacturing and trading seamless and electric resistance welded steel casing and tubing. line pipe, and mechanical tubing. The company was founded in 1901 by Andrew Carnegie, John Pierpont Morgan, Charles Michael Schwab, and Elbert Henry Gary and is headquartered in Pittsburgh, PA.,003GLW-E