POSCO (PKX) Upgraded to Hold at Zacks Investment Research

POSCO (NYSE:PKX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “Improving steel demand will create solid business opportunities for POSCO. On the domestic front, any investment by the government in infrastructure improvements and growth anticipated in the automobile and shipbuilding industry will work in the company's favor. However, headwinds like risks from industry rivalry, huge debt level, geopolitical issues and foreign currency fluctuations remains causes of concern for the stock. Over the past year, POSCO's American Depository Receipts (ADR) underperformed the industry.”

A number of other brokerages have also weighed in on PKX. ValuEngine lowered POSCO from a “hold” rating to a “sell” rating in a research report on Saturday, July 14th. Daiwa Capital Markets assumed coverage on POSCO in a research report on Monday, September 10th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $98.00.

Shares of POSCO stock opened at $67.75 on Monday. The stock has a market cap of $23.63 billion, a PE ratio of 8.74, a PEG ratio of 1.56 and a beta of 1.27. The company has a quick ratio of 1.14, a current ratio of 1.67 and a debt-to-equity ratio of 0.20. POSCO has a twelve month low of $63.79 and a twelve month high of $93.12.

Large investors have recently made changes to their positions in the stock. Mount Yale Investment Advisors LLC bought a new position in shares of POSCO in the 1st quarter valued at about $160,000. Knowledge Leaders Capital LLC lifted its holdings in shares of POSCO by 90.1% in the 1st quarter. Knowledge Leaders Capital LLC now owns 2,730 shares of the basic materials company’s stock valued at $215,000 after acquiring an additional 1,294 shares during the last quarter. Cynosure Advisors LLC bought a new position in shares of POSCO in the 1st quarter valued at about $225,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of POSCO in the 2nd quarter valued at about $274,000. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in shares of POSCO by 37.2% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 3,916 shares of the basic materials company’s stock valued at $309,000 after acquiring an additional 1,062 shares during the last quarter. 5.14% of the stock is owned by hedge funds and other institutional investors.

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, steel plates, wire rods, galvanized and electrical galvanized steel, electrical and stainless steel, automotive materials, titanium, magnesium, and aluminum-plated products.

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