POSCO (PKX) Upgraded at Deutsche Bank
Deutsche Bank upgraded shares of POSCO (NYSE:PKX) from a hold rating to a buy rating in a research note issued to investors on Monday morning, The Fly reports.
Other analysts have also issued research reports about the company. BidaskClub lowered POSCO from a strong-buy rating to a buy rating in a report on Saturday, August 12th. Zacks Investment Research raised POSCO from a hold rating to a buy rating and set a $82.00 price objective on the stock in a report on Wednesday, October 18th. Finally, Standpoint Research lowered POSCO from a buy rating to a hold rating in a report on Monday, August 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $82.00.
POSCO (NYSE:PKX) traded down $0.62 on Monday, reaching $76.31. The company’s stock had a trading volume of 120,200 shares, compared to its average volume of 256,244. POSCO has a 12-month low of $50.37 and a 12-month high of $79.20. The firm has a market cap of $24,616.68, a price-to-earnings ratio of 13.79, a P/E/G ratio of 1.84 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.68 and a quick ratio of 1.14.
Several large investors have recently made changes to their positions in PKX. Capital Growth Management LP acquired a new stake in shares of POSCO during the 3rd quarter worth approximately $29,148,000. Assetmark Inc. grew its holdings in shares of POSCO by 164,689.9% during the 3rd quarter. Assetmark Inc. now owns 163,142 shares of the basic materials company’s stock worth $11,322,000 after purchasing an additional 163,043 shares in the last quarter. LMR Partners LLP grew its holdings in shares of POSCO by 57.0% during the 2nd quarter. LMR Partners LLP now owns 387,825 shares of the basic materials company’s stock worth $24,321,000 after purchasing an additional 140,787 shares in the last quarter. Athos Capital Ltd bought a new position in shares of POSCO during the 2nd quarter worth approximately $8,463,000. Finally, Northern Trust Corp lifted its position in shares of POSCO by 12.2% during the 2nd quarter. Northern Trust Corp now owns 643,169 shares of the basic materials company’s stock worth $40,256,000 after buying an additional 69,983 shares during the period. 5.39% of the stock is currently owned by institutional investors.
POSCO is a Korea-based company principally engaged in the manufacture and distribution of steel products. The Company operates in four segments: steel, trading, construction, and others. The steel segment includes production of steel products and sale of such products. The trading segment consists of global trading activities of POSCO Daewoo Corporation, exporting and importing a range of steel products that are both obtained from and supplied to it, as well as between other suppliers and purchasers in Korea and overseas.
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