Today: Posco (PKX) Rating Increased to Buy at HSBC

Today: Posco (PKX) Rating Increased to Buy at HSBC

Posco (NYSE:PKX) was upgraded by stock analysts at HSBC from a “hold” rating to a “buy” rating in a report released on Monday, The Fly reports.

Several other equities research analysts also recently weighed in on the stock. downgraded shares of Posco from an “outperform” rating to an “underperform” rating in a research report on Tuesday, October 4th. Zacks Investment Research raised shares of Posco from a “sell” rating to a “hold” rating in a research report on Tuesday, September 20th. Finally, Nomura downgraded shares of Posco from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold”.

Posco (NYSE:PKX) traded down 3.53% during midday trading on Monday, hitting $53.83. The company’s stock had a trading volume of 536,048 shares. Posco has a 12 month low of $30.97 and a 12 month high of $56.26. The company’s 50 day moving average price is $52.91 and its 200 day moving average price is $48.90. The firm has a market cap of $17.49 billion, a P/E ratio of 25.56 and a beta of 1.08.

A number of large investors have recently bought and sold shares of PKX. Crow Point Partners LLC bought a new stake in Posco during the third quarter worth approximately $163,000. Dynamic Capital Management Ltd bought a new stake in Posco during the third quarter worth approximately $219,000. Cubist Systematic Strategies LLC bought a new stake in Posco during the second quarter worth approximately $231,000. KCG Holdings Inc. bought a new stake in Posco during the second quarter worth approximately $247,000. Finally, Princeton Alpha Management LP bought a new stake in Posco during the second quarter worth approximately $250,000. 5.43% of the stock is owned by institutional investors and hedge funds.

Posco Company Profile

POSCO is an integrated steel producer. The Company operates in four segments: steel, trading, engineering and 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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