BidaskClub Downgrades POSCO (PKX) to Buy

POSCO (NYSE:PKX) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also issued reports about the company. UBS AG upgraded POSCO from a “neutral” rating to a “buy” rating in a research note on Thursday, July 6th. Standpoint Research lowered POSCO from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, CLSA upgraded POSCO from an “underperform” rating to an “outperform” rating in a research note on Thursday, July 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.00.

POSCO (NYSE PKX) opened at 70.50 on Friday. The company’s 50-day moving average price is $69.38 and its 200-day moving average price is $62.82. The stock has a market capitalization of $22.56 billion, a PE ratio of 13.88 and a beta of 1.13. POSCO has a one year low of $47.45 and a one year high of $76.04.

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Several large investors have recently modified their holdings of the company. Advisors Asset Management Inc. increased its stake 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 valued at $753,000 after buying an additional 3,093 shares during the last quarter. Eqis Capital Management Inc. bought a new stake in shares of POSCO during the first quarter valued at $285,000. Commerzbank Aktiengesellschaft FI increased its stake 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 valued at $708,000 after buying an additional 85 shares during the last quarter. Barry Investment Advisors LLC bought a new stake in shares of POSCO during the first quarter valued at $213,000. Finally, Horseman Capital Management Ltd bought a new stake in shares of POSCO during the first quarter valued at $14,512,000. 5.96% of the stock is owned by institutional investors.

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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