POSCO (PKX) Receives $64.00 Average Target Price from Brokerages

POSCO (NYSE:PKX) has received an average recommendation of “Buy” from the ten ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $64.00.

A number of research analysts recently commented on PKX shares. Standpoint Research downgraded shares of POSCO from a “buy” rating to a “hold” rating in a report on Monday. CLSA raised shares of POSCO from an “underperform” rating to an “outperform” rating in a report on Thursday, July 20th. BidaskClub raised shares of POSCO from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Finally, UBS AG raised shares of POSCO from a “neutral” rating to a “buy” rating in a report on Thursday, July 6th.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of POSCO by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,092,632 shares of the basic materials company’s stock worth $199,437,000 after buying an additional 112,528 shares during the last quarter. Brandes Investment Partners LP increased its position in shares of POSCO by 1.8% in the second quarter. Brandes Investment Partners LP now owns 936,469 shares of the basic materials company’s stock worth $58,614,000 after buying an additional 16,819 shares during the last quarter. Vanguard Group Inc. increased its position in shares of POSCO by 2.5% in the first quarter. Vanguard Group Inc. now owns 693,767 shares of the basic materials company’s stock worth $44,748,000 after buying an additional 16,974 shares during the last quarter. State Street Corp increased its position in shares of POSCO by 9.6% in the first quarter. State Street Corp now owns 435,670 shares of the basic materials company’s stock worth $28,100,000 after buying an additional 38,259 shares during the last quarter. Finally, LMR Partners LLP increased its position in shares of POSCO by 57.0% in the second quarter. LMR Partners LLP now owns 387,825 shares of the basic materials company’s stock worth $24,321,000 after buying an additional 140,787 shares during the last quarter. 5.96% of the stock is owned by hedge funds and other institutional investors.

POSCO (NYSE:PKX) traded down 0.47% on Friday, hitting $74.74. The stock had a trading volume of 114,545 shares. POSCO has a 52-week low of $47.45 and a 52-week high of $75.32. The company’s 50 day moving average price is $67.34 and its 200 day moving average price is $62.24. The firm has a market cap of $23.92 billion, a price-to-earnings ratio of 14.72 and a beta of 1.13.

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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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