ArcelorMittal (NYSE:MT) Shares Gap Up - Time to Buy?

ArcelorMittal S.A. (NYSE:MT - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $27.74, but opened at $30.27. ArcelorMittal shares last traded at $30.14, with a volume of 966,285 shares.

Analyst Upgrades and Downgrades

MT has been the topic of several research analyst reports. Bank of America upgraded ArcelorMittal from a "neutral" rating to a "buy" rating and lifted their price target for the company from $30.00 to $32.90 in a research report on Thursday, November 14th. Morgan Stanley lowered shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $31.17.

ArcelorMittal Price Performance

The stock has a 50 day moving average of $25.54 and a two-hundred day moving average of $24.73. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. The stock has a market cap of $27.60 billion, a PE ratio of 20.42, a PEG ratio of 0.14 and a beta of 1.74.

ArcelorMittal (NYSE:MT - Get Free Report) last issued 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%. Equities analysts anticipate that ArcelorMittal S.A. will post 3.72 EPS for the current year.

Institutional Trading of ArcelorMittal

Large investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. raised its stake in shares of ArcelorMittal by 89.6% in the fourth 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 in the last quarter. GAMMA Investing LLC grew its holdings in shares of ArcelorMittal by 68.5% during the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company's stock worth $34,000 after purchasing an additional 595 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of ArcelorMittal by 76.2% in the fourth quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company's stock valued at $113,000 after buying an additional 2,110 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in ArcelorMittal by 76.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company's stock worth $137,000 after acquiring an additional 2,586 shares during the last quarter. Finally, Callan Family Office LLC bought a new position in shares of ArcelorMittal in the fourth quarter worth about $207,000. 9.29% of the stock is owned by institutional investors.

About ArcelorMittal

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.