AK Steel’s (NYSE:AKS) Hold Rating Reaffirmed at Cowen
Other equities analysts also recently issued reports about the stock. Jefferies Group reiterated a buy rating on shares of AK Steel in a report on Monday, September 18th. Bank of America reiterated a buy rating and issued a $9.00 price objective on shares of AK Steel in a report on Wednesday, September 6th. Longbow Research upgraded shares of AK Steel from a neutral rating to a buy rating and upped their price target for the company from $5.53 to $7.00 in a research note on Wednesday, December 20th. TheStreet downgraded 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 issued a $7.00 price target on shares of AK Steel in a research note on Thursday, October 5th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. AK Steel presently has an average rating of Buy and an average target price of $7.54.
AK Steel (NYSE:AKS) opened at $6.31 on Thursday. AK Steel has a fifty-two week low of $4.00 and a fifty-two week high of $9.19. The company has a market cap of $1,990.00, a price-to-earnings ratio of 42.07, a price-to-earnings-growth ratio of 1.54 and a beta of 2.90. The company has a debt-to-equity ratio of 11.89, a current ratio of 1.92 and a quick ratio of 0.75.
Institutional investors have recently made changes to their positions in the business. First Trust Advisors LP grew its stake in AK Steel by 56.9% during the second quarter. First Trust Advisors LP now owns 377,889 shares of the basic materials company’s stock worth $2,483,000 after buying an additional 137,078 shares in the last quarter. New Jersey Better Educational Savings Trust acquired a new stake in AK Steel during the third quarter worth about $1,118,000. Northern Trust Corp grew its stake in AK Steel by 3.6% during the second quarter. Northern Trust Corp now owns 3,829,715 shares of the basic materials company’s stock worth $25,160,000 after buying an additional 132,062 shares in the last quarter. Stevens Capital Management LP acquired a new stake in AK Steel during the third quarter worth about $488,000. Finally, BW Gestao de Investimentos Ltda. acquired a new stake in AK Steel during the second quarter worth about $9,855,000. Hedge funds and other institutional investors own 65.39% of the company’s stock.
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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.
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