Posco (PKX) Upgraded to “Buy” at HSBC
Several other equities analysts also recently weighed in on the company. Nomura downgraded Posco from a buy rating to a neutral rating in a research note on Wednesday, October 26th. downgraded Posco from an outperform rating to an underperform rating in a research note on Tuesday, October 4th. Finally, Zacks Investment Research raised Posco from a sell rating to a hold rating in a research note on Tuesday, September 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Posco presently has a consensus rating of Hold.
Posco (NYSE:PKX) opened at 53.83 on Monday. The stock has a 50 day moving average price of $52.99 and a 200 day moving average price of $49.02. The firm has a market cap of $17.49 billion, a price-to-earnings ratio of 25.56 and a beta of 1.08. Posco has a 52 week low of $30.97 and a 52 week high of $56.26.
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A number of institutional investors have recently added to or reduced their stakes in the company. Crow Point Partners LLC bought a new position in Posco during the third quarter valued at $163,000. Credit Suisse AG increased its stake in shares of Posco by 79.7% in the third quarter. Credit Suisse AG now owns 42,204 shares of the company’s stock worth $2,155,000 after buying an additional 18,717 shares in the last quarter. NS Partners Ltd increased its stake in shares of Posco by 96.8% in the third quarter. NS Partners Ltd now owns 20,371 shares of the company’s stock worth $1,041,000 after buying an additional 10,021 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Posco during the third quarter worth approximately $916,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Posco during the third quarter worth approximately $793,000. 5.43% of the stock is owned by institutional investors.
Posco Company Profile
POSCO is an integrated steel producer. The Company operates in four segments: steel, trading, engineering and 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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