POSCO (NYSE:PKX) Rating Lowered to Buy at BidaskClub
BidaskClub lowered shares of POSCO (NYSE:PKX) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.
A number of other research firms have also commented on PKX. Standpoint Research lowered shares of POSCO from a buy rating to a hold rating in a research note on Monday, August 7th. CLSA raised shares of POSCO from an underperform rating to an outperform rating in a research note on Thursday, July 20th. Finally, UBS AG raised shares of POSCO from a neutral rating to a buy rating in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $64.00.
POSCO (NYSE PKX) traded down 2.75% during midday trading on Friday, reaching $70.50. 549,699 shares of the company’s stock traded hands. The firm has a market cap of $22.56 billion, a price-to-earnings ratio of 13.88 and a beta of 1.13. POSCO has a 1-year low of $47.45 and a 1-year high of $76.04. The stock’s 50 day moving average price is $69.38 and its 200 day moving average price is $62.82.
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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Rational Advisors LLC raised its position in shares of POSCO by 100.0% in the first quarter. Rational Advisors LLC now owns 1,800 shares of the basic materials company’s stock valued at $116,000 after buying an additional 900 shares in the last quarter. MAVEN SECURITIES Ltd bought a new position in shares of POSCO during the first quarter valued at about $187,000. Barry Investment Advisors LLC bought a new position in shares of POSCO during the first quarter valued at about $213,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of POSCO during the first quarter valued at about $229,000. Finally, Teza Capital Management LLC bought a new position in shares of POSCO during the first quarter valued at about $237,000. 5.96% of the stock is currently owned by institutional investors and hedge funds.
POSCO Company Profile
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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