AK Steel (NYSE:AKS) had its price objective lowered by Deutsche Bank to $2.50 in a report published on Tuesday, February 5th, The Fly reports. The brokerage currently has a hold rating on the basic materials company’s stock.
Several other research firms have also issued reports on AKS. Bank of America lowered shares of AK Steel from a buy rating to an underperform rating and cut their price target for the stock from $5.00 to $2.50 in a report on Wednesday, January 30th. Cowen began coverage on shares of AK Steel in a research report on Tuesday, January 8th. They set a market perform rating and a $2.50 price objective on the stock. Zacks Investment Research raised shares of AK Steel from a sell rating to a hold rating in a research report on Monday, November 12th. Seaport Global Securities began coverage on shares of AK Steel in a research report on Thursday, October 11th. They set a neutral rating and a $5.00 price objective on the stock. Finally, Clarkson Capital downgraded shares of AK Steel from a buy rating to a neutral rating in a research report on Wednesday, January 16th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $3.76.
Shares of AK Steel stock traded up $0.02 during trading on Tuesday, hitting $3.04. 8,842,107 shares of the company were exchanged, compared to its average volume of 13,245,702. The firm has a market capitalization of $999.54 million, a P/E ratio of 4.75, a PEG ratio of 1.13 and a beta of 2.73. AK Steel has a 1-year low of $2.05 and a 1-year high of $5.87. The company has a current ratio of 1.95, a quick ratio of 0.69 and a debt-to-equity ratio of 4.64.
AK Steel (NYSE:AKS) last posted its earnings results on Monday, January 28th. The basic materials company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.70 billion. AK Steel had a return on equity of 54.01% and a net margin of 2.73%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.06) EPS. Research analysts anticipate that AK Steel will post 0.49 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in shares of AK Steel by 1,136.9% during the third quarter. Tower Research Capital LLC TRC now owns 22,956 shares of the basic materials company’s stock valued at $113,000 after acquiring an additional 21,100 shares during the period. Vanguard Group Inc. increased its stake in shares of AK Steel by 1.7% in the third quarter. Vanguard Group Inc. now owns 32,062,343 shares of the basic materials company’s stock valued at $157,105,000 after buying an additional 531,265 shares during the period. Flagship Harbor Advisors LLC increased its stake in shares of AK Steel by 124.1% in the fourth quarter. Flagship Harbor Advisors LLC now owns 31,570 shares of the basic materials company’s stock valued at $71,000 after buying an additional 17,480 shares during the period. Regal Investment Advisors LLC increased its stake in shares of AK Steel by 68.0% in the fourth quarter. Regal Investment Advisors LLC now owns 37,560 shares of the basic materials company’s stock valued at $85,000 after buying an additional 15,200 shares during the period. Finally, FMR LLC acquired a new stake in shares of AK Steel in the third quarter valued at about $3,971,000. 63.05% of the stock is currently owned by institutional investors and hedge funds.
AK Steel Company Profile
AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, and stainless and electrical steel products in the United States and internationally. It produces flat-rolled carbon steel products, including coated, cold-rolled, and hot-rolled carbon steel products; grain-oriented specialty stainless and electrical steels; and carbon and stainless steel tubing products.
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