POSCO (NYSE:PKX) Upgraded by Zacks Research to “Hold” Rating

POSCO (NYSE:PKX) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also weighed in on PKX. Weiss Ratings raised shares of POSCO from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 22nd. Wall Street Zen raised POSCO from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Finally, UBS Group upgraded POSCO from a “neutral” rating to a “buy” rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

POSCO Price Performance

POSCO stock opened at $60.45 on Monday. The company has a fifty day simple moving average of $70.54 and a 200-day simple moving average of $62.59. The firm has a market capitalization of $18.28 billion, a price-to-earnings ratio of 35.77 and a beta of 1.52. The company has a quick ratio of 1.30, a current ratio of 1.90 and a debt-to-equity ratio of 0.28. POSCO has a 52-week low of $44.99 and a 52-week high of $92.40.

POSCO (NYSE:PKX) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.12. POSCO had a net margin of 1.19% and a return on equity of 1.34%. The firm had revenue of $11.88 billion for the quarter, compared to analyst estimates of $11.75 billion. On average, equities analysts anticipate that POSCO will post 4.56 EPS for the current fiscal year.

Institutional Trading of POSCO

Hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in POSCO during the fourth quarter worth $25,000. Founders Capital Management grew its holdings in shares of POSCO by 100.0% during the 3rd quarter. Founders Capital Management now owns 600 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 300 shares during the period. Allworth Financial LP grew its holdings in shares of POSCO by 51.6% during the 3rd quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 232 shares during the period. Headlands Technologies LLC increased its position in shares of POSCO by 1,276.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,432 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 1,328 shares during the last quarter. Finally, Inspire Investing LLC purchased a new stake in POSCO in the 4th quarter valued at about $85,000.

About POSCO

POSCO (NYSE: PKX) is a South Korea–based integrated steel producer founded in 1968 as Pohang Iron and Steel Company. Headquartered in Pohang, the company grew rapidly as part of South Korea’s industrialization program and developed large, integrated steelworks—most notably in Pohang and Gwangyang—that helped establish POSCO among the world’s largest steelmakers. It is structured as a diversified industrial group with steelmaking at its core and a range of downstream and trading businesses.

The company’s primary activities include ironmaking and steelmaking, producing a wide array of steel products such as hot-rolled and cold-rolled sheets, coated steels, plates, stainless and special steels, long products (bars and wire rods), and seamless pipes.