Stock On Watch: Could United States Steel Corporation See a Reversal After Breaking Its 52-Week High?

Stock On Watch: Could United States Steel Corporation See a Reversal After Breaking Its 52 Week High?

The stock of United States Steel Corporation (NYSE:X) hit a new 52-week high and has $32.20 target or 5.00% above today’s $30.67 share price. The 6 months bullish chart indicates low risk for the $5.22 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $32.20 price target is reached, the company will be worth $261.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 10.77 million shares traded hands. United States Steel Corporation (NYSE:X) has risen 45.13% since April 20, 2016 and is uptrending. It has outperformed by 40.58% the S&P500.

United States Steel Corporation (NYSE:X) Ratings Coverage

Out of 19 analysts covering United States Steel Corporation (NYSE:X), 5 rate it a “Buy”, 3 “Sell”, while 11 “Hold”. This means 26% are positive. United States Steel Corporation has been the topic of 44 analyst reports since July 30, 2015 according to StockzIntelligence Inc. Northland Capital maintained the stock with “Neutral” rating in Wednesday, March 9 report. The firm earned “Neutral” rating on Wednesday, June 15 by Bank of America. Jefferies downgraded United States Steel Corporation (NYSE:X) rating on Monday, March 21. Jefferies has “Underperform” rating and $10 price target. Deutsche Bank downgraded United States Steel Corporation (NYSE:X) on Wednesday, November 4 to “Hold” rating. The rating was downgraded by Macquarie Research on Thursday, April 28 to “Underperform”. The stock of United States Steel Corporation (NYSE:X) earned “Hold” rating by Jefferies on Wednesday, September 16. The firm has “Buy” rating by Argus Research given on Tuesday, November 24. The stock of United States Steel Corporation (NYSE:X) earned “Neutral” rating by Clarksons Platou on Thursday, November 3. The stock of United States Steel Corporation (NYSE:X) earned “Underweight” rating by KeyBanc Capital Markets on Friday, August 19. The firm earned “Overweight” rating on Thursday, July 30 by JP Morgan.

According to Zacks Investment Research, “United States Steel manufactures and sells a variety of steel mill products, coke and taconite pellets. Primary steel operations are the Gary (Indiana) Works, the Fairfield (Alabama) Works near Birmingham, the Mon Valley Works ( which includes the Edgar Thomson steelmaking and Irvin finishing operations) on the Monongahela River near Pittsburgh, and U. S. Steel Kosice in the Slovak Republic.”

More important recent United States Steel Corporation (NYSE:X) news were published by: Investorplace.com which released: “Fight Deflation With United States Steel Corporation (X), AK Steel Holding …” on November 14, 2016, also Prnewswire.com published article titled: “United States Steel Corporation Reports Best Quarterly Results Since 2014”, Prnewswire.com published: “Harold G. Hamm Named Chief Roughneck by U. S. Steel Tubular Products” on November 11, 2016. More interesting news about United States Steel Corporation (NYSE:X) was released by: Schaeffersresearch.com and their article: “Earnings Preview: United States Steel Corporation (X)” with publication date: October 31, 2016.

X Company Profile

United States Steel Corporation (U. S. Steel), incorporated on May 25, 2001, is an integrated steel producer. The Firm is engaged in producing flat-rolled and tubular products with production activities in North America and Europe. The Firm operates through three divisions: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular). U. S. Steel is also engaged in other business activities consisting primarily of railroad services and real estate operations. U. S. Steel owns, develops and manages various real estate assets, which include approximately 50,000 acres of surface rights primarily in Alabama, Illinois, Maryland, Michigan, Minnesota and Pennsylvania. In addition, the Company holds ownership interests in joint ventures that are developing real estate projects in Alabama, Maryland and Illinois.

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