ArcelorMittal S.A. (NYSE:MT) Given Average Rating of "Moderate Buy" by Brokerages

Shares of ArcelorMittal S.A. (NYSE:MT - Get Rating) have been given an average recommendation of "Moderate Buy" by the seven brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $31.33.

MT has been the topic of a number of recent analyst reports. StockNews.com started coverage on ArcelorMittal in a research report on Thursday, May 18th. They set a "buy" rating on the stock. Barclays downgraded shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Monday, April 3rd. UBS Group upgraded shares of ArcelorMittal from a "sell" rating to a "buy" rating in a report on Tuesday, March 28th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of ArcelorMittal from $36.00 to $33.00 in a report on Thursday, February 23rd. Finally, Bank of America raised shares of ArcelorMittal from a "neutral" rating to a "buy" rating in a research note on Thursday, March 23rd.

Shares of NYSE:MT opened at $26.82 on Thursday. The business has a 50 day simple moving average of $27.60 and a two-hundred day simple moving average of $28.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.57 and a quick ratio of 0.70. ArcelorMittal has a 1 year low of $19.25 and a 1 year high of $32.49. The firm has a market capitalization of $21.60 billion, a PE ratio of 3.88 and a beta of 1.91.

Several large investors have recently made changes to their positions in MT. Raymond James & Associates raised its holdings in shares of ArcelorMittal by 36.5% in the 1st quarter. Raymond James & Associates now owns 77,799 shares of the basic materials company's stock worth $2,490,000 after purchasing an additional 20,821 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of ArcelorMittal by 15.0% during the 1st quarter. Bank of New York Mellon Corp now owns 17,618 shares of the basic materials company's stock worth $564,000 after buying an additional 2,294 shares during the period. American Century Companies Inc. boosted its holdings in shares of ArcelorMittal by 11.3% during the 1st quarter. American Century Companies Inc. now owns 79,895 shares of the basic materials company's stock worth $2,557,000 after buying an additional 8,085 shares during the period. US Bancorp DE raised its stake in ArcelorMittal by 75.4% during the 1st quarter. US Bancorp DE now owns 23,765 shares of the basic materials company's stock valued at $760,000 after purchasing an additional 10,217 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in ArcelorMittal by 10.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,874 shares of the basic materials company's stock valued at $252,000 after purchasing an additional 758 shares during the last quarter. Institutional investors and hedge funds own 5.40% of the company's stock.

ArcelorMittal SA is a holding company, which engages in steelmaking and mining activities. It operates through the following business segments: NAFTA; Brazil; Europe; Africa and Commonwealth of Independent States (ACIS), Mining, and Others. The NAFTA segment consists of flat products such as slabs, hot-rolled coil, cold-rolled coil, coated steel, and plate.

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