U.S. Steel (X, $10.97) shares get hammered by lower ratings and slashed price targets from several analysts

U.S. Steel Corp shares dipped on Monday, after analysts at J.P. Morgan lowered their rating on the stock.

J.P. Morgan analyst Michael Gambardella cut his rating on the steelmaker’s shares to 'neutral' from 'overweight', after U.S. Steel Corp indicated that it would likely report an adjusted third quarter loss of -35 cents per share. The steel company has also been  hit hard by falling steel prices and scrap prices, leading it to continue idling two of its main U.S. blast furnaces.

Several other analysts lowered their outlook as well. Macquarie cut US Steel from an “outperform” rating to an “underperform” rating, and slashed their price objective for the company from $18.00 to $9.00 in a research report on Thursday. Credit Suisse Group cut their price objective on United States Steel from $9.00 to $8.00 and gave an “underperform” rating for the company’s stock.

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Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.