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

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

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

POSCO Trading Down 3.6%

Shares of POSCO stock opened at $49.48 on Monday. POSCO has a 12-month low of $48.50 and a 12-month high of $92.40. The company has a current ratio of 1.98, a quick ratio of 1.37 and a debt-to-equity ratio of 0.30. The stock has a market cap of $14.97 billion, a PE ratio of 19.43 and a beta of 1.75. The company has a 50-day moving average of $57.24 and a two-hundred day moving average of $61.04.

Institutional Investors Weigh In On POSCO

Several hedge funds have recently modified their holdings of the stock. Barometer Capital Management Inc. purchased a new position in POSCO during the first quarter worth approximately $1,392,000. Nykredit A S purchased a new stake in shares of POSCO during the 2nd quarter valued at $13,269,000. Quantinno Capital Management LP grew its stake in shares of POSCO by 82.7% during the 1st quarter. Quantinno Capital Management LP now owns 200,529 shares of the basic materials company’s stock valued at $11,729,000 after buying an additional 90,777 shares during the period. Bank of America Corp DE grew its stake in shares of POSCO by 96.2% during the 1st quarter. Bank of America Corp DE now owns 109,074 shares of the basic materials company’s stock valued at $6,380,000 after buying an additional 53,469 shares during the period. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of POSCO by 58.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 37,608 shares of the basic materials company’s stock worth $2,200,000 after buying an additional 13,851 shares during the last quarter.

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.