AK Steel Holding (NYSE:AKS) has earned a consensus rating of “Hold” from the twenty-one ratings firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $6.07.
Several research firms have weighed in on AKS. Cowen cut their target price on AK Steel from $5.00 to $4.50 and set a “market perform” rating on the stock in a report on Tuesday, May 1st. BMO Capital Markets lowered their price target on AK Steel from $7.00 to $5.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 1st. ValuEngine raised AK Steel from a “sell” rating to a “hold” rating in a research report on Friday, May 4th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $6.00 price target (down from $6.50) on shares of AK Steel in a research report on Tuesday, May 1st. Finally, Bank of America lowered their price target on AK Steel from $5.50 to $5.00 and set a “sell” rating on the stock in a research report on Tuesday, May 1st.
In related news, Chairman James A. Thomson sold 10,270 shares of AK Steel stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $4.45, for a total transaction of $45,701.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.13% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Polar Asset Management Partners Inc. acquired a new stake in AK Steel during the first quarter worth about $6,771,000. Principal Financial Group Inc. grew its position in AK Steel by 2.4% during the first quarter. Principal Financial Group Inc. now owns 2,446,168 shares of the basic materials company’s stock worth $11,081,000 after buying an additional 57,228 shares in the last quarter. Highbridge Capital Management LLC grew its position in AK Steel by 77.2% during the first quarter. Highbridge Capital Management LLC now owns 502,647 shares of the basic materials company’s stock worth $2,277,000 after buying an additional 219,000 shares in the last quarter. LPL Financial LLC grew its position in AK Steel by 21.8% during the first quarter. LPL Financial LLC now owns 99,289 shares of the basic materials company’s stock worth $450,000 after buying an additional 17,739 shares in the last quarter. Finally, MetLife Investment Advisors LLC grew its position in AK Steel by 11.7% during the first quarter. MetLife Investment Advisors LLC now owns 143,725 shares of the basic materials company’s stock worth $651,000 after buying an additional 15,052 shares in the last quarter. 63.73% of the stock is currently owned by institutional investors and hedge funds.
NYSE AKS traded down $0.04 during trading on Monday, hitting $4.47. 7,842,336 shares of the company traded hands, compared to its average volume of 14,738,664. AK Steel has a 12 month low of $4.00 and a 12 month high of $7.04. The company has a debt-to-equity ratio of 6.34, a current ratio of 2.09 and a quick ratio of 0.76. The firm has a market cap of $1.42 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 1.37 and a beta of 2.89.
AK Steel (NYSE:AKS) last posted its earnings results on Monday, April 30th. The basic materials company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.06. AK Steel had a positive return on equity of 37.76% and a negative net margin of 0.38%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company earned $0.19 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. equities analysts expect that AK Steel will post 0.66 EPS for the current year.
AK Steel Company Profile
AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, stainless, and electrical steels, and tubular 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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