POSCO (NYSE:PKX) Given Average Rating of “Hold” by Brokerages

POSCO (NYSE:PKX) has received an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $59.00.

Several brokerages have weighed in on PKX. Goldman Sachs Group raised shares of POSCO from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, January 7th. ValuEngine raised shares of POSCO from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in shares of POSCO by 148.1% in the second quarter. Royal Bank of Canada now owns 23,724 shares of the basic materials company’s stock valued at $1,258,000 after purchasing an additional 14,161 shares during the period. Corient Capital Partners LLC boosted its stake in shares of POSCO by 49.9% in the third quarter. Corient Capital Partners LLC now owns 5,682 shares of the basic materials company’s stock valued at $268,000 after purchasing an additional 1,892 shares during the period. Nomura Holdings Inc. purchased a new position in shares of POSCO in the third quarter valued at approximately $271,000. Parametric Portfolio Associates LLC boosted its stake in shares of POSCO by 15.1% in the third quarter. Parametric Portfolio Associates LLC now owns 552,975 shares of the basic materials company’s stock valued at $26,078,000 after purchasing an additional 72,710 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of POSCO in the third quarter valued at approximately $201,000. 4.49% of the stock is owned by institutional investors and hedge funds.

PKX stock traded down $0.05 during mid-day trading on Thursday, hitting $51.59. 1,879 shares of the company were exchanged, compared to its average volume of 179,075. The company has a quick ratio of 1.37, a current ratio of 2.07 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $18.25 billion, a P/E ratio of 22.45 and a beta of 1.16. The business has a fifty day simple moving average of $50.44 and a 200-day simple moving average of $47.91. POSCO has a 12-month low of $41.14 and a 12-month high of $62.95.

About POSCO

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, wire rods, galvanized and electrical galvanized steel, steel plates, electrical and stainless steel, and titanium.

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