Kobe Steel, Ltd. (NASDAQ:KBSTY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday. They presently have a $6.50 price target on the stock. Zacks Investment Research‘s price target suggests a potential upside of 5.18% from the stock’s previous close.

According to Zacks, “Kobe Steel, Ltd. is a steel manufacturer. The Iron and Steel segment manufactures and sells steel bars, stainless-steel products and titanium products. The company offers welding materials, welding robots, and conducts welding-related consulting business. The Aluminum and Copper segment offers rolled aluminum products, rolled copper products, aluminum alloy products, magnesium alloy products and others. The Machinery segment manufactures and sells various energy, chemical and nuclear power-related equipment. The Engineering segment conducts engineering works and provides new transportation systems. The Kobelco Eco-Solutions provides water treatment plants, chemical and food-related equipment. The Kobelco Construction Machinery segment offers hydraulic and mini excavators. The Kobelco Crane segment provides crawler cranes and rough terrain cranes. The others segment develops and leases real estate. “

Shares of Kobe Steel (KBSTY) remained flat at $6.18 during mid-day trading on Friday. 74 shares of the company’s stock traded hands. The stock has a market capitalization of $4.48 billion and a PE ratio of 122.38. The firm has a 50 day moving average price of $5.81 and a 200-day moving average price of $4.99. Kobe Steel has a 52 week low of $3.97 and a 52 week high of $6.27.

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About Kobe Steel

Kobe Steel, Ltd. is a steel manufacturer. The Iron and Steel segment manufactures and sells steel bars, stainless-steel products and titanium products. The Welding segment offers welding materials, welding robots, and conducts welding-related consulting business. The Aluminum and Copper segment offers rolled aluminum products, rolled copper products, aluminum alloy products, magnesium alloy products and others.

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