KT (NYSE:KT) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded KT from “strong sell” to “hold,” while other analysts have also recently reduced their ratings. KT’s consensus rating is “Hold,” with an average price target of $23.08.
• KT shares opened at $18.52, compared with a 52-week range of $17.13 to $24.58. The company has a market capitalization of approximately $8.93 billion and a P/E ratio of 8.19.
• Institutional investors and hedge funds own 18.86% of KT; several major firms increased their positions during the first and second quarters.

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

KT has been the subject of several other research reports. Weiss Ratings cut shares of KT from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, July 17th. Bank of America lowered shares of KT from a "buy" rating to a "neutral" rating and set a $23.08 target price on the stock. in a research report on Thursday, May 14th. Finally, Wall Street Zen lowered shares of KT from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, KT currently has an average rating of "Hold" and an average target price of $23.08.

KT Price Performance

Shares of NYSE KT opened at $18.52 on Wednesday. The firm has a market capitalization of $8.93 billion, a P/E ratio of 8.19, a PEG ratio of 5.15 and a beta of 0.55. KT has a one year low of $17.13 and a one year high of $24.58. The company's fifty day moving average is $18.09 and its two-hundred day moving average is $20.34. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.11 and a current ratio of 1.15.

Institutional Trading of KT

Large investors have recently bought and sold shares of the company. Royal Bank of Canada grew its stake in KT by 1.1% in the 1st quarter. Royal Bank of Canada now owns 102,808 shares of the technology company's stock valued at $1,820,000 after acquiring an additional 1,078 shares during the last quarter. Millennium Management LLC increased its holdings in KT by 4,148.2% during the 1st quarter. Millennium Management LLC now owns 530,817 shares of the technology company's stock valued at $9,401,000 after acquiring an additional 518,322 shares in the last quarter. NewEdge Advisors LLC raised its position in KT by 20,894.8% during the first quarter. NewEdge Advisors LLC now owns 20,365 shares of the technology company's stock worth $361,000 after acquiring an additional 20,268 shares during the last quarter. Jane Street Group LLC raised its position in KT by 107.9% during the first quarter. Jane Street Group LLC now owns 242,212 shares of the technology company's stock worth $4,290,000 after acquiring an additional 125,702 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of KT by 1.2% in the second quarter. Lazard Asset Management LLC now owns 3,250,513 shares of the technology company's stock valued at $67,545,000 after purchasing an additional 37,744 shares in the last quarter. Institutional investors and hedge funds own 18.86% of the company's stock.

About KT

KT Corporation, listed on the New York Stock Exchange as an American depositary receipt under the symbol KT, is a major telecommunications and information technology provider headquartered in Seongnam, South Korea. The company's services span traditional fixed-line voice communication, high-speed broadband internet access and mobile cellular networks. Leveraging an extensive fiber-optic and wireless infrastructure, KT delivers voice, data and multimedia solutions to both consumer and enterprise customers.

KT has been at the forefront of technological innovation in its home market, launching South Korea's first commercial 5G network and expanding its offerings to include Internet of Things (IoT) platforms, cloud computing services and cybersecurity solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.