KT (NYSE:KT) Upgraded to “Strong-Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of KT (NYSE:KT) from a hold rating to a strong-buy rating in a report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $13.00 target price on the technology company’s stock.

According to Zacks, “KT Corporation provides telecommunication services. Its services include mobile telecommunications services, telephone services, fixed-line and VoIP telephone services. The Company also provides interconnection services to other telecommunications companies, broadband Internet access services and other Internet-related services. It also offers information technology and network services, including consulting, designing, building, and maintaining of systems and communication networks. KT Corporation, formerly known as Korea Telecom Corp., is headquartered in Sungnam, South Korea. “

Several other equities research analysts have also recently commented on the company. Macquarie cut KT from an outperform rating to a neutral rating in a research report on Monday, October 7th. New Street Research raised KT from a neutral rating to a buy rating and set a $14.10 price objective on the stock in a research report on Friday, October 11th. Finally, ValuEngine raised KT from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $13.55.

Shares of NYSE:KT traded down $0.03 on Wednesday, hitting $11.49. 660,942 shares of the company traded hands, compared to its average volume of 763,807. KT has a 52 week low of $10.86 and a 52 week high of $15.42. The company has a quick ratio of 1.13, a current ratio of 1.19 and a debt-to-equity ratio of 0.38. The stock has a 50 day simple moving average of $11.36 and a 200-day simple moving average of $11.68. The company has a market cap of $5.75 billion, a PE ratio of 8.98, a PEG ratio of 0.86 and a beta of 0.39.

Institutional investors have recently added to or reduced their stakes in the stock. Carroll Financial Associates Inc. boosted its position in shares of KT by 89.4% during the second quarter. Carroll Financial Associates Inc. now owns 2,091 shares of the technology company’s stock valued at $25,000 after buying an additional 987 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of KT by 42.8% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,835 shares of the technology company’s stock valued at $85,000 after buying an additional 2,048 shares during the last quarter. Corient Capital Partners LLC purchased a new stake in shares of KT during the second quarter valued at $160,000. Fox Run Management L.L.C. purchased a new stake in shares of KT during the second quarter valued at $166,000. Finally, HighTower Advisors LLC purchased a new stake in shares of KT during the second quarter valued at $174,000. 34.82% of the stock is currently owned by institutional investors.

About KT

KT Corporation provides telecommunications services in Korea and internationally. The company offers local, domestic long-distance, and international long-distance fixed-line and voice over Internet protocol fixed-line telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services, including IPTV services; and data communication services, such as leased line and broadband Internet connection services to institutional customers.

Featured Article: Understanding each part of a balance sheet

Get a free copy of the Zacks research report on KT (KT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for KT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KT and related companies with MarketBeat.com's FREE daily email newsletter.