POSCO (NYSE:PKX) Shares Gap Up – Should You Buy?

POSCO (NYSE:PKX) shares gapped up before the market opened on Monday. The stock had previously closed at $49.67, but opened at $52.79. POSCO shares last traded at $52.8090, with a volume of 26,085 shares.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Zacks Research cut shares of POSCO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Weiss Ratings lowered POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 9th. Finally, Wall Street Zen raised POSCO from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold”.

POSCO Stock Performance

The company has a market capitalization of $14.97 billion, a P/E ratio of 19.43 and a beta of 1.75. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.37 and a current ratio of 1.98. The stock’s 50 day moving average price is $57.24 and its 200 day moving average price is $61.04.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PKX. Barometer Capital Management Inc. purchased a new position in POSCO in the 1st quarter worth approximately $1,392,000. Nykredit A S purchased a new position in POSCO during the second quarter valued at $13,269,000. Quantinno Capital Management LP raised its stake in POSCO by 82.7% during the 1st quarter. Quantinno Capital Management LP now owns 200,529 shares of the basic materials company’s stock valued at $11,729,000 after purchasing an additional 90,777 shares during the period. Bank of America Corp DE lifted its position in shares of POSCO by 96.2% in the first quarter. Bank of America Corp DE now owns 109,074 shares of the basic materials company’s stock worth $6,380,000 after buying an additional 53,469 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in POSCO by 58.3% during the first quarter. Sequoia Financial Advisors LLC now owns 37,608 shares of the basic materials company’s stock valued at $2,200,000 after purchasing an additional 13,851 shares during the last quarter.

POSCO Company Profile

POSCO is a South Korean steel producer and one of the world’s major integrated steelmakers. The company manufactures a broad range of steel products, including hot- and cold-rolled steel, heavy plate, wire rod, stainless steel, galvanized steel, automotive steel and electrical steel.

POSCO operates large integrated steelworks in Pohang and Gwangyang, South Korea. Its products are used in automobiles, shipbuilding, construction, energy infrastructure, appliances and other industrial applications.