POSCO (NYSE:PKX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm currently has a $98.00 target price on the basic materials company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 8.48% from the company’s previous close.

According to Zacks, “Year to date, POSCO's American Depository Receipts (ADR) have outperformed the industry. Over the long term, we believe the company is poised to benefit from its regional diversifications, superior product portfolio and initiatives to dispose non-core assets. On a consolidated basis, POSCO aims to improve businesses and services, as well as generate revenues of approximately KRW 59.5 trillion in 2017 (results not yet released), compared with the previous forecast of KRW 59.3 trillion. Crude steel production is projected to be nearly 37.1 million tons versus 37 million tons expected earlier. Also, the company plans to spend KRW 3.3 trillion for strengthening its businesses. Earnings estimates on the stock improved for 2018 in the last 60 days.”

Several other equities analysts have also issued reports on PKX. ValuEngine lowered shares of POSCO from a “buy” rating to a “hold” rating in a report on Saturday. Goldman Sachs Group upgraded shares of POSCO from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Finally, Deutsche Bank upgraded shares of POSCO from a “hold” rating to a “buy” rating in a report on Monday, December 4th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $98.00.

POSCO (NYSE:PKX) traded up $2.77 during mid-day trading on Monday, reaching $90.34. 341,600 shares of the company traded hands, compared to its average volume of 292,089. The firm has a market capitalization of $28,907.71, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.88 and a beta of 1.13. The company has a current ratio of 1.68, a quick ratio of 1.14 and a debt-to-equity ratio of 0.24. POSCO has a 1-year low of $52.88 and a 1-year high of $90.56.

POSCO (NYSE:PKX) last released its earnings results on Tuesday, November 28th. The basic materials company reported $2.42 earnings per share (EPS) for the quarter. POSCO had a net margin of 4.01% and a return on equity of 5.03%. equities analysts anticipate that POSCO will post 8.84 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. KCS Wealth Advisory bought a new stake in POSCO in the fourth quarter valued at $900,000. Parametric Portfolio Associates LLC increased its stake in POSCO by 7.8% in the third quarter. Parametric Portfolio Associates LLC now owns 283,366 shares of the basic materials company’s stock valued at $19,666,000 after purchasing an additional 20,457 shares in the last quarter. Wealthsource Partners LLC bought a new stake in POSCO in the third quarter valued at $224,000. Point72 Asset Management L.P. bought a new stake in POSCO in the third quarter valued at $4,268,000. Finally, National Planning Corp increased its stake in POSCO by 7.4% in the third quarter. National Planning Corp now owns 22,853 shares of the basic materials company’s stock valued at $1,617,000 after purchasing an additional 1,567 shares in the last quarter. 5.37% of the stock is owned by hedge funds and other institutional investors.

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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.

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