KT (NYSE:KT) Upgraded by Morgan Stanley to Overweight

Morgan Stanley upgraded shares of KT (NYSE:KT) from an equal weight rating to an overweight rating in a research note released on Monday, FlyOnTheWall reports. The analysts noted that the move was a valuation call.

Separately, StockNews.com assumed coverage on KT in a research report on Thursday, August 17th. They set a buy rating for the company.

KT Stock Performance

Shares of KT stock opened at $11.84 on Monday. KT has a 1-year low of $11.04 and a 1-year high of $14.93. The company has a current ratio of 1.16, a quick ratio of 1.12 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 6.37, a P/E/G ratio of 2.46 and a beta of 0.74. The stock’s fifty day simple moving average is $11.98 and its 200-day simple moving average is $11.75.

Institutional Trading of KT

A number of institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its position in shares of KT by 2.1% in the second quarter. Osaic Holdings Inc. now owns 104,465 shares of the technology company’s stock worth $1,180,000 after buying an additional 2,120 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of KT by 15.9% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 258,100 shares of the technology company’s stock worth $2,917,000 after buying an additional 35,400 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of KT by 13.1% in the second quarter. Wells Fargo & Company MN now owns 357,934 shares of the technology company’s stock worth $4,045,000 after buying an additional 41,387 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of KT by 165.3% in the second quarter. Lazard Asset Management LLC now owns 5,338,379 shares of the technology company’s stock worth $60,323,000 after buying an additional 3,326,251 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of KT by 15.6% in the second quarter. Royal Bank of Canada now owns 133,942 shares of the technology company’s stock worth $1,514,000 after buying an additional 18,038 shares during the last quarter. Institutional investors and hedge funds own 20.75% of the company’s stock.

KT Company Profile

KT Corporation provides integrated telecommunications and platform services in Korea and internationally. The company offers fixed-line telephone services, including local, domestic long-distance, international long-distance, and voice over Internet protocol telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services; and data communication services, such as fixed-line and leased line services, as well as broadband Internet connection services.