Deutsche Bank stock analysts cut their price target on ArcelorMittal (NYSE: MT – Get Rating) to $39.00 from $53.00 in a note to investors Thursday, The Fly reported.Brokerages currently have a “buy” rating on the basic materials company’s stock.Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 76.23% from its previous close.
Many other research firms also weighed in on MT.JPMorgan downgraded ArcelorMittal’s stock to “neutral” from “overweight” in a research note on Wednesday, June 22.StockNews.com upgraded ArcelorMittal’s stock to “Strong Buy” from “Buy” in a research note on Tuesday, May 17.Finally, Morgan Stanley raised its price target on ArcelorMittal shares to 46.10 euros ($48.02) from 46.00 euros ($47.92) in a research note on Thursday, June 23, giving the The company has an “overweight” rating.One investment analyst has a sell rating on the stock, two have a hold rating, seven have a buy rating and one has a strong buy rating.ArcelorMittal currently has a “Moderate Buy” consensus rating and a consensus price target of $42.71, according to MarketBeat.
On Thursday, MT shares opened at $22.13.The company’s current ratio is 1.55, its quick ratio is 0.71, and its debt-to-equity ratio is 0.11.The company has a market capitalization of $20.75 billion, a price-to-earnings ratio of 1.40, and a beta of 2.00.The company’s 50-day simple moving average is at $27.70 and its 200-day simple moving average is at $30.47.ArcelorMittal’s 12-month low was $20.86 and its 12-month high was $37.87.
Many institutional investors have overweight or underweight MT recently.RBC increased its stake in ArcelorMittal by 57.8% in the third quarter.After acquiring an additional 25,067 shares during this period, RBC now owns 68,449 shares of the basic materials company’s stock, valued at $2,064,000.Ritholtz Wealth Management acquired a new position in ArcelorMittal stock for $447,000 in the fourth quarter.National Bank of Canada FI acquired a new position in ArcelorMittal stock for $46,000 in the fourth quarter.Signaturefd LLC increased its stake in ArcelorMittal by 83.8% in the fourth quarter.Signaturefd LLC now owns 8,223 shares of the basic materials company’s stock, valued at $262,000, after purchasing an additional 3,748 shares in the previous quarter.Finally, Seascape Capital Management acquired a new position in ArcelorMittal stock for $649,000 in the fourth quarter.41.79% of the shares are held by institutional investors.
ArcelorMittal SA and its subsidiaries operate as integrated steel and mining companies in Europe, North and South America, Asia and Africa.Its main steel products include semi-finished sheets, including slabs; finished flat products, including sheets, hot-rolled and cold-rolled coils and sheets, hot-dip and electro-galvanized coils and sheets, tinplate and pre-painted coils and sheets; semi-finished long products , including blooms and billets; finished long products, including bar, wire, structural profiles, rails, sheet piles and wire products; and seamless and welded pipes and tubes.
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Post time: Jul-15-2022