Zacks Investment Research Upgrades POSCO (NYSE:PKX) to “Hold”

Zacks Investment Research upgraded shares of POSCO (NYSE:PKX) from a sell rating to a hold rating in a research note released on Saturday, Zacks.com reports.

According to Zacks, “POSCO, formerly known as Pohang Iron & Steel Company Ltd., manufactures hot and cold rolled steel products, heavy plate and other steel products for the construction and shipbuilding industries. “

A number of other equities research analysts have also weighed in on the company. ValuEngine raised POSCO from a sell rating to a hold rating in a research report on Tuesday, March 24th. Nomura lowered POSCO from a buy rating to a hold rating in a research report on Friday, April 24th. Finally, Morgan Stanley lowered POSCO from an overweight rating to an equal weight rating in a research report on Monday, April 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $59.00.

Shares of PKX stock opened at $37.18 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.48 and a current ratio of 2.07. The stock has a 50 day moving average price of $37.71 and a 200 day moving average price of $41.03. The firm has a market capitalization of $13.06 billion, a P/E ratio of 9.51, a P/E/G ratio of 2.00 and a beta of 1.17. POSCO has a 52-week low of $26.27 and a 52-week high of $54.53.

POSCO (NYSE:PKX) last issued its earnings results on Monday, June 8th. The basic materials company reported $1.03 earnings per share for the quarter. The business had revenue of $12.20 billion during the quarter. POSCO had a return on equity of 3.20% and a net margin of 2.37%. As a group, sell-side analysts forecast that POSCO will post 3.74 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC grew its stake in POSCO by 15.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 686,583 shares of the basic materials company’s stock valued at $22,417,000 after purchasing an additional 90,078 shares during the last quarter. UBS Group AG grew its position in POSCO by 158.4% in the first quarter. UBS Group AG now owns 627,951 shares of the basic materials company’s stock worth $20,502,000 after acquiring an additional 384,915 shares during the period. Aperio Group LLC boosted its position in shares of POSCO by 1.5% during the first quarter. Aperio Group LLC now owns 413,326 shares of the basic materials company’s stock worth $13,495,000 after buying an additional 6,236 shares during the period. Pzena Investment Management LLC raised its stake in shares of POSCO by 54.7% in the first quarter. Pzena Investment Management LLC now owns 293,407 shares of the basic materials company’s stock valued at $9,580,000 after acquiring an additional 103,707 shares in the last quarter. Finally, Greenline Partners LLC raised its stake in shares of POSCO by 23.7% in the first quarter. Greenline Partners LLC now owns 168,238 shares of the basic materials company’s stock valued at $5,493,000 after acquiring an additional 32,274 shares in the last quarter. Hedge funds and other institutional investors own 3.16% of the company’s stock.

POSCO Company Profile

POSCO manufactures and sells steel rolled products and plates in South Korea and internationally. It operates through four segments: Steel, Construction, Trading, and Others. The company offers hot and cold rolled steel, wire rods, galvanized and electrical galvanized steel, steel plates, electrical and stainless steel, and titanium.

Further Reading: Neutral Rating

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