Cowen Reiterates Hold Rating for AK Steel (NYSE:AKS)

Cowen restated their hold rating on shares of AK Steel (NYSE:AKS) in a research report report published on Thursday, January 4th. They currently have a $7.00 price target on the basic materials company’s stock.

Other research analysts have also issued reports about the stock. Jefferies Group reissued a buy rating on shares of AK Steel in a research note on Monday, September 18th. Bank of America reaffirmed a buy rating and issued a $9.00 price target on shares of AK Steel in a research note on Wednesday, September 6th. Longbow Research raised shares of AK Steel from a neutral rating to a buy rating and increased their target price for the company from $5.53 to $7.00 in a research note on Wednesday, December 20th. TheStreet lowered shares of AK Steel from a c rating to a d+ rating in a research note on Tuesday, October 31st. Finally, BMO Capital Markets restated a hold rating and set a $7.00 price target on shares of AK Steel in a report on Thursday, October 5th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $7.54.

Shares of AK Steel (AKS) opened at $6.19 on Thursday. The company has a debt-to-equity ratio of 11.89, a quick ratio of 0.75 and a current ratio of 1.92. The firm has a market cap of $1,950.00, a PE ratio of 41.27, a P/E/G ratio of 1.60 and a beta of 2.90. AK Steel has a 1 year low of $4.00 and a 1 year high of $10.78.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D bought a new stake in AK Steel in the 3rd quarter valued at $81,614,000. BW Gestao de Investimentos Ltda. bought a new stake in AK Steel in the 2nd quarter valued at $9,855,000. Brandywine Global Investment Management LLC bought a new stake in AK Steel in the 2nd quarter valued at $5,860,000. Ameriprise Financial Inc. boosted its holdings in AK Steel by 29.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,760,681 shares of the basic materials company’s stock valued at $24,709,000 after purchasing an additional 865,110 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in AK Steel by 14.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,162,355 shares of the basic materials company’s stock valued at $40,489,000 after purchasing an additional 772,725 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

WARNING: This piece was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international trademark and copyright law. The legal version of this piece can be read at https://ledgergazette.com/2018/01/13/ak-steel-aks-stock-rating-reaffirmed-by-cowen.html.

AK Steel Company Profile

AK Steel Holding Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company also operates blast furnaces and electric arc furnaces. As of December 31, 2016, its operations included eight steelmaking and finishing plants, two coke plants and two tube manufacturing plants across states, including Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia, and a tube manufacturing plant in Mexico.

Analyst Recommendations for AK Steel (NYSE:AKS)

Receive News & Ratings for AK Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AK Steel and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply