KT (NYSE:KT) Rating Increased to Hold at Zacks Research

KT (NYSE:KT) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also issued reports on KT. Weiss Ratings lowered shares of KT from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Bank of America lowered shares of KT from a “buy” rating to a “neutral” rating and set a $23.08 price objective for the company. in a research report on Thursday, May 14th. Finally, Wall Street Zen downgraded shares of KT from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, KT presently has an average rating of “Hold” and an average target price of $23.08.

KT Stock Up 0.9%

KT opened at $18.52 on Wednesday. The firm has a market cap of $8.93 billion, a P/E ratio of 8.19, a PEG ratio of 5.15 and a beta of 0.55. The business’s fifty day simple moving average is $18.09 and its 200 day simple moving average is $20.34. KT has a 52 week low of $17.13 and a 52 week high of $24.58. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 0.37.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of KT. Triumph Capital Management purchased a new position in shares of KT during the 3rd quarter worth about $47,000. Quantbot Technologies LP purchased a new stake in KT in the third quarter valued at approximately $81,000. Westpac Banking Corp purchased a new stake in KT in the fourth quarter valued at approximately $157,000. SG Americas Securities LLC acquired a new position in KT during the fourth quarter worth approximately $163,000. Finally, EverSource Wealth Advisors LLC increased its position in KT by 41.0% during the first quarter. EverSource Wealth Advisors LLC now owns 9,122 shares of the technology company’s stock worth $196,000 after purchasing an additional 2,653 shares during the last quarter. Institutional investors and hedge funds own 18.86% of the company’s stock.

About KT

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.