POSCO (NYSE:PKX) Raised to “Strong-Buy” at Zacks Research

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

Several other equities research analysts also recently issued reports on the company. Weiss Ratings downgraded POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 9th. Wall Street Zen raised POSCO from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

POSCO Stock Down 3.6%

NYSE:PKX opened at $49.48 on Monday. POSCO has a 52 week low of $48.50 and a 52 week high of $92.40. The stock’s fifty day moving average is $57.24 and its two-hundred day moving average is $61.04. The stock has a market capitalization of $14.97 billion, a price-to-earnings ratio of 18.74 and a beta of 1.75. The company has a quick ratio of 1.37, a current ratio of 1.98 and a debt-to-equity ratio of 0.30.

Institutional Investors Weigh In On POSCO

A number of hedge funds have recently added to or reduced their stakes in the business. Bell Investment Advisors Inc grew its stake in shares of POSCO by 62.4% in the third quarter. Bell Investment Advisors Inc now owns 557 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 214 shares in the last quarter. Mather Group LLC. increased its position in shares of POSCO by 3,766.7% during the third quarter. Mather Group LLC. now owns 1,392 shares of the basic materials company’s stock worth $79,000 after acquiring an additional 1,356 shares during the period. Inspire Investing LLC raised its stake in shares of POSCO by 25.7% in the third quarter. Inspire Investing LLC now owns 2,053 shares of the basic materials company’s stock valued at $116,000 after acquiring an additional 420 shares in the last quarter. Keybank National Association OH acquired a new stake in shares of POSCO in the first quarter valued at $200,000. Finally, QRG Capital Management Inc. purchased a new position in POSCO in the first quarter valued at $219,000.

About POSCO

POSCO is a South Korean steel producer and one of the world’s major integrated steelmakers. The company manufactures a broad range of steel products, including hot- and cold-rolled steel, heavy plate, wire rod, stainless steel, galvanized steel, automotive steel and electrical steel.

POSCO operates large integrated steelworks in Pohang and Gwangyang, South Korea. Its products are used in automobiles, shipbuilding, construction, energy infrastructure, appliances and other industrial applications.