Brokerages Set ArcelorMittal S.A. (NYSE:MT) PT at $31.17

ArcelorMittal S.A. (NYSE:MT) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $31.17.

A number of research analysts have weighed in on the stock. Morgan Stanley lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and increased their target price for the company from $30.00 to $32.90 in a research note on Thursday, November 14th.

ArcelorMittal Stock Performance

MT opened at $27.72 on Friday. The stock has a 50-day moving average of $25.06 and a 200-day moving average of $24.52. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. ArcelorMittal has a 52-week low of $20.52 and a 52-week high of $29.38. The company has a market cap of $22.71 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 0.14 and a beta of 1.74.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. As a group, equities research analysts forecast that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ArcelorMittal

Large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. raised its stake in ArcelorMittal by 89.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 536 shares during the last quarter. GAMMA Investing LLC raised its stake in ArcelorMittal by 68.5% during the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 595 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of ArcelorMittal by 76.2% during the 4th quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 2,110 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of ArcelorMittal by 76.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company’s stock valued at $137,000 after purchasing an additional 2,586 shares during the period. Finally, Callan Family Office LLC acquired a new position in shares of ArcelorMittal in the fourth quarter valued at $207,000. 9.29% of the stock is currently owned by institutional investors and hedge funds.

ArcelorMittal Company Profile

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.