Zacks Investment Research upgraded shares of POSCO (NYSE:PKX) from a sell rating to a hold rating in a research note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “POSCO, formerly known as Pohang Iron & Steel Company Ltd., manufactures hot and cold rolled steel products, heavy plate and other steel products for the construction and shipbuilding industries. “

A number of other equities analysts also recently commented on PKX. Morgan Stanley downgraded POSCO from an overweight rating to an equal weight rating in a report on Monday, April 6th. ValuEngine raised POSCO from a sell rating to a hold rating in a research note on Tuesday, March 24th. Finally, Nomura cut POSCO from a buy rating to a hold rating in a research note on Friday, April 24th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. POSCO has an average rating of Hold and a consensus target price of $59.00.

Shares of POSCO stock opened at $37.18 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.07 and a debt-to-equity ratio of 0.29. The company has a market cap of $13.06 billion, a PE ratio of 9.51, a P/E/G ratio of 2.00 and a beta of 1.17. The business has a 50 day moving average of $37.71 and a 200 day moving average of $41.03. POSCO has a 52 week low of $26.27 and a 52 week high of $54.53.

POSCO (NYSE:PKX) last announced its earnings results on Monday, June 8th. The basic materials company reported $1.03 EPS for the quarter. The company had revenue of $12.20 billion during the quarter. POSCO had a return on equity of 3.20% and a net margin of 2.37%. On average, research analysts anticipate that POSCO will post 3.74 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of PKX. Advisor Group Holdings Inc. purchased a new stake in shares of POSCO in the first quarter worth $42,000. Fieldpoint Private Securities LLC grew its stake in shares of POSCO by 34.7% in the fourth quarter. Fieldpoint Private Securities LLC now owns 861 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 222 shares during the last quarter. Cornerstone Advisors Inc. grew its stake in shares of POSCO by 27.2% in the first quarter. Cornerstone Advisors Inc. now owns 2,297 shares of the basic materials company’s stock worth $75,000 after acquiring an additional 491 shares during the last quarter. Arden Trust Co purchased a new stake in shares of POSCO in the first quarter worth $77,000. Finally, Atlas Capital Advisors LLC grew its stake in shares of POSCO by 935.4% in the first quarter. Atlas Capital Advisors LLC now owns 2,723 shares of the basic materials company’s stock worth $89,000 after acquiring an additional 2,460 shares during the last quarter. 3.16% of the stock is currently owned by institutional investors.

POSCO Company Profile

POSCO manufactures and sells steel rolled products and plates in South Korea and internationally. It operates through four segments: Steel, Construction, Trading, and Others. The company offers hot and cold rolled steel, wire rods, galvanized and electrical galvanized steel, steel plates, electrical and stainless steel, and titanium.

Featured Article: How do taxes affect a CDs total return?

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

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

Analyst Recommendations for POSCO (NYSE:PKX)

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