BidaskClub Downgrades POSCO (PKX) to Buy
POSCO (NYSE:PKX) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.
A number of other equities analysts also recently issued reports on PKX. UBS AG raised shares of POSCO from a “neutral” rating to a “buy” rating in a research note on Thursday, July 6th. CLSA raised shares of POSCO from an “underperform” rating to an “outperform” rating in a research note on Thursday, July 20th. Finally, Standpoint Research downgraded shares of POSCO from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. One research 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. POSCO presently has an average rating of “Buy” and a consensus price target of $64.00.
POSCO (PKX) opened at 70.50 on Friday. The stock has a 50 day moving average price of $69.38 and a 200 day moving average price of $62.82. POSCO has a 52-week low of $47.45 and a 52-week high of $76.04. The company has a market capitalization of $22.56 billion, a price-to-earnings ratio of 13.88 and a beta of 1.13.
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Several institutional investors have recently made changes to their positions in PKX. Advisors Asset Management Inc. increased its position in shares of POSCO by 36.1% in the first quarter. Advisors Asset Management Inc. now owns 11,671 shares of the basic materials company’s stock worth $753,000 after buying an additional 3,093 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in shares of POSCO during the first quarter worth $285,000. Commerzbank Aktiengesellschaft FI increased its position in shares of POSCO by 0.8% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 10,978 shares of the basic materials company’s stock worth $708,000 after buying an additional 85 shares in the last quarter. Barry Investment Advisors LLC acquired a new position in shares of POSCO during the first quarter worth $213,000. Finally, Horseman Capital Management Ltd acquired a new position in shares of POSCO during the first quarter worth $14,512,000. 5.96% of the stock is 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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