POSCO (PKX) Receives Consensus Rating of “Buy” from Brokerages

POSCO (NYSE:PKX) has earned an average rating of “Buy” from the nine analysts that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $82.00.

A number of research analysts have commented on PKX shares. CLSA upgraded shares of POSCO from an “underperform” rating to an “outperform” rating in a research report on Thursday, July 20th. BidaskClub upgraded shares of POSCO from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Standpoint Research cut shares of POSCO from a “buy” rating to a “hold” rating in a report on Monday, August 7th. UBS AG upgraded shares of POSCO from a “neutral” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research cut shares of POSCO from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th.

Several institutional investors have recently modified their holdings of PKX. Raymond James Financial Services Advisors Inc. bought a new position in shares of POSCO in the first quarter worth approximately $229,000. Stifel Financial Corp grew its holdings in shares of POSCO by 1.2% in the first quarter. Stifel Financial Corp now owns 14,359 shares of the basic materials company’s stock worth $926,000 after purchasing an additional 169 shares during the last quarter. Alliancebernstein L.P. bought a new position in shares of POSCO in the first quarter worth approximately $2,362,000. AXA grew its holdings in shares of POSCO by 10.5% in the first quarter. AXA now owns 11,604 shares of the basic materials company’s stock worth $748,000 after purchasing an additional 1,104 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of POSCO in the first quarter worth approximately $669,000. Hedge funds and other institutional investors own 5.14% of the company’s stock.

POSCO (NYSE PKX) traded up 0.854% during midday trading on Wednesday, reaching $73.815. 144,778 shares of the company traded hands. The company has a market capitalization of $23.62 billion, a price-to-earnings ratio of 13.125 and a beta of 1.11. POSCO has a one year low of $50.37 and a one year high of $77.76. The stock’s 50 day moving average is $71.68 and its 200 day moving average is $66.32.

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About POSCO

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.

Analyst Recommendations for POSCO (NYSE:PKX)

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