POSCO (NYSE:PKX) Stock Lifted to "Strong-Buy" by Zacks Research

Key Points

• Zacks Research upgraded POSCO from “hold” to “strong-buy.” Other recent ratings were mixed, leaving the stock with a MarketBeat consensus rating of “Moderate Buy.”
• POSCO shares fell 3.6% and opened at $49.48; that was near the company’s 12-month low of $48.50 and below its 50- and 200-day moving averages.
• Several institutional investors increased their POSCO holdings, including Quantinno Capital Management, Bank of America, and Sequoia Financial Advisors.

POSCO (NYSE:PKX - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other brokerages also recently issued reports on PKX. Weiss Ratings downgraded shares of POSCO from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, October 9th. Wall Street Zen raised shares of POSCO from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. One equities research 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.com, the stock has a consensus rating of "Moderate Buy".

POSCO Stock Down 3.6%

PKX stock opened at $49.48 on Monday. The company has a fifty day moving average price of $57.24 and a 200 day moving average price of $61.04. POSCO has a 12 month low of $48.50 and a 12 month high of $92.40. The company has a market cap of $14.97 billion, a price-to-earnings ratio of 19.43 and a beta of 1.75. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.98 and a quick ratio of 1.37.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PKX. Barometer Capital Management Inc. acquired a new position in POSCO during the first quarter worth $1,392,000. Nykredit A S purchased a new position in POSCO in the second quarter worth $13,269,000. Quantinno Capital Management LP lifted its holdings in POSCO by 82.7% in the first quarter. Quantinno Capital Management LP now owns 200,529 shares of the basic materials company's stock valued at $11,729,000 after acquiring an additional 90,777 shares during the period. Bank of America Corp DE lifted its holdings in POSCO by 96.2% in the first quarter. Bank of America Corp DE now owns 109,074 shares of the basic materials company's stock valued at $6,380,000 after acquiring an additional 53,469 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in POSCO by 58.3% in the first quarter. Sequoia Financial Advisors LLC now owns 37,608 shares of the basic materials company's stock valued at $2,200,000 after acquiring an additional 13,851 shares during the period.

POSCO Company Profile

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.

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