KT (NYSE:KT) Reaches New 12-Month High – Should You Buy?

KT Corporation (NYSE:KT) hit a new 52-week high during trading on Tuesday . The company traded as high as $23.24 and last traded at $22.71, with a volume of 2449456 shares traded. The stock had previously closed at $21.77.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on KT. Weiss Ratings reissued a “hold (c+)” rating on shares of KT in a report on Monday, December 29th. Wall Street Zen downgraded shares of KT from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 28th. Finally, Zacks Research upgraded KT from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 8th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

KT Price Performance

The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The stock’s 50-day simple moving average is $19.49 and its two-hundred day simple moving average is $19.42. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 0.20 and a beta of 0.65.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KT. Triumph Capital Management purchased a new stake in KT during the 3rd quarter worth approximately $47,000. First Horizon Advisors Inc. boosted its stake in shares of KT by 506.3% in the second quarter. First Horizon Advisors Inc. now owns 2,504 shares of the technology company’s stock worth $52,000 after acquiring an additional 2,091 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of KT during the third quarter worth approximately $81,000. Westpac Banking Corp acquired a new position in KT in the 4th quarter valued at $157,000. Finally, SG Americas Securities LLC purchased a new position in KT in the 4th quarter valued at $163,000. 18.86% of the stock is owned by hedge funds and other institutional investors.

KT Company Profile

KT Corporation, listed on the New York Stock Exchange as an American depositary receipt under the symbol KT, is a major telecommunications and information technology provider headquartered in Seongnam, South Korea. The company’s services span traditional fixed-line voice communication, high-speed broadband internet access and mobile cellular networks. Leveraging an extensive fiber-optic and wireless infrastructure, KT delivers voice, data and multimedia solutions to both consumer and enterprise customers.

KT has been at the forefront of technological innovation in its home market, launching South Korea’s first commercial 5G network and expanding its offerings to include Internet of Things (IoT) platforms, cloud computing services and cybersecurity solutions.